Marty D. Hahnfeld Sells 1,081 Shares of Olo Inc. (NYSE:OLO) Stock
Olo Inc. (NYSE:OLO – Get Rating) insider Marty D. Hahnfeld sold 1,081 shares of the company’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $10.87, for a total value of $11,750.47. Following the sale, the insider now owns 603,292 shares of the company’s stock, valued at $6,557,784.04. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
OLO traded down $0.01 on Wednesday, reaching $11.08. The stock had a trading volume of 1,095,276 shares, compared to its average volume of 1,507,630. Olo Inc. has a fifty-two week low of $8.11 and a fifty-two week high of $49.00. The firm has a 50-day moving average of $11.31 and a 200-day moving average of $15.73. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of -61.56 and a beta of 1.44.
OLO (NYSE:OLO – Get Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). OLO had a negative net margin of 17.52% and a negative return on equity of 3.09%. The company had revenue of $42.80 million during the quarter, compared to the consensus estimate of $41.66 million. During the same quarter last year, the firm posted ($0.01) EPS. The company’s quarterly revenue was up 18.6% on a year-over-year basis. As a group, analysts predict that Olo Inc. will post -0.16 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. HWG Holdings LP bought a new stake in shares of OLO in the 4th quarter valued at about $27,000. Geneos Wealth Management Inc. bought a new stake in shares of OLO in the 4th quarter valued at about $52,000. Citigroup Inc. bought a new stake in shares of OLO in the 3rd quarter valued at about $106,000. Ensign Peak Advisors Inc bought a new stake in shares of OLO in the 1st quarter valued at about $113,000. Finally, Legal & General Group Plc bought a new stake in shares of OLO in the 4th quarter valued at about $125,000. Hedge funds and other institutional investors own 75.26% of the company’s stock.
OLO has been the subject of a number of recent analyst reports. Piper Sandler cut their target price on OLO from $33.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, February 24th. Zacks Investment Research upgraded OLO from a “sell” rating to a “hold” rating in a research report on Wednesday, April 27th. StockNews.com downgraded OLO from a “hold” rating to a “sell” rating in a research report on Wednesday, May 11th. Truist Financial cut their target price on OLO from $45.00 to $25.00 in a research report on Thursday, February 24th. Finally, William Blair reiterated an “outperform” rating on shares of OLO in a research report on Wednesday, May 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $31.00.
About OLO (Get Rating)
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 Order Management, an on-demand digital commerce and channel management solutions that enables consumers to order directly from and pay restaurants via mobile, web, kiosk, voice, and other digital channels; and Delivery Enablement, a fulfillment network, as well as a network aggregator and channel management solution, which enables restaurants to offer, manage, and expand direct delivery, as well as allows restaurants to control and syndicate menu, pricing, location data, and availability, while directly integrating and optimizing orders from third-parties into the restaurants’ point-of-sale and systems.
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