Insider Selling: Olo Inc. (NYSE:OLO) Insider Sells $484,392.90 in Stock

Olo Inc. (NYSE:OLO) insider Nithya B. Das sold 18,870 shares of OLO stock in a transaction that occurred on Monday, November 22nd. The shares were sold at an average price of $25.67, for a total transaction of $484,392.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

NYSE OLO opened at $25.45 on Thursday. The firm’s fifty day simple moving average is $29.99 and its two-hundred day simple moving average is $33.23. Olo Inc. has a 12-month low of $22.88 and a 12-month high of $49.00.

OLO (NYSE:OLO) last released its quarterly earnings results on Tuesday, November 9th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.01. OLO had a negative net margin of 30.84% and a negative return on equity of 2.48%. The business had revenue of $37.39 million for the quarter, compared to analyst estimates of $36.33 million. Sell-side analysts anticipate that Olo Inc. will post -0.06 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Schonfeld Strategic Advisors LLC purchased a new position in OLO in the third quarter worth $7,457,000. Utah Retirement Systems acquired a new stake in shares of OLO during the third quarter worth $2,401,000. Guardian Life Insurance Co of America acquired a new stake in shares of OLO during the third quarter worth $459,000. Squarepoint Ops LLC lifted its stake in shares of OLO by 103.2% during the third quarter. Squarepoint Ops LLC now owns 15,494 shares of the company’s stock worth $465,000 after buying an additional 7,869 shares during the period. Finally, TownSquare Capital LLC lifted its stake in shares of OLO by 42.5% during the third quarter. TownSquare Capital LLC now owns 39,006 shares of the company’s stock worth $1,172,000 after buying an additional 11,639 shares during the period. 48.98% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts recently issued reports on OLO shares. Royal Bank of Canada lifted their price objective on shares of OLO from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, August 9th. Piper Sandler lifted their price objective on shares of OLO from $35.00 to $39.00 and gave the company an “overweight” rating in a report on Wednesday, August 11th. Zacks Investment Research lowered shares of OLO from a “hold” rating to a “sell” rating in a report on Thursday, November 18th. Finally, Stifel Nicolaus raised shares of OLO from a “hold” rating to a “buy” rating and lifted their price objective for the company from $27.00 to $41.00 in a report on Wednesday, August 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, OLO has a consensus rating of “Buy” and a consensus price target of $36.00.

About OLO

Olo Inc provides software-as-a-service platform for multi-location restaurants in the United States. The company's platform enables on-demand commerce operations, which cover digital ordering and delivery through online and mobile ordering modules. Its modules include Ordering, an on-demand commerce solution that enables consumers to order directly from and pay restaurants via mobile, web, kiosk, voice, and other digital channels; Dispatch, a fulfillment solution, which enables restaurants to offer, manage, and expand direct delivery; and Rails, an aggregator and channel management solution, which allows restaurants to control and syndicate menu, pricing, location data, and availability.

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