Andrew J. Murray Sells 25,000 Shares of Olo Inc. (NYSE:OLO) Stock

Olo Inc. (NYSE:OLO) CTO Andrew J. Murray sold 25,000 shares of the business’s stock in a transaction on Thursday, September 16th. The shares were sold at an average price of $33.52, for a total transaction of $838,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

NYSE OLO traded down $1.86 on Monday, hitting $33.08. 1,150,003 shares of the company were exchanged, compared to its average volume of 718,632. The firm’s 50 day simple moving average is $36.48. Olo Inc. has a 1-year low of $22.88 and a 1-year high of $49.00.

OLO (NYSE:OLO) last issued its quarterly earnings results on Tuesday, August 10th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.02. The company had revenue of $35.90 million for the quarter, compared to analyst estimates of $34.17 million. During the same quarter last year, the company earned $0.05 EPS. The firm’s quarterly revenue was up 47.7% on a year-over-year basis. On average, research analysts predict that Olo Inc. will post -0.06 earnings per share for the current year.

Several large investors have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new stake in shares of OLO in the 2nd quarter valued at approximately $328,000. Parametric Portfolio Associates LLC bought a new stake in OLO during the 2nd quarter worth approximately $1,606,000. Marshall Wace LLP increased its stake in OLO by 172.7% during the 2nd quarter. Marshall Wace LLP now owns 21,314 shares of the company’s stock worth $797,000 after purchasing an additional 13,498 shares in the last quarter. Castleview Partners LLC bought a new stake in OLO during the 2nd quarter worth approximately $47,000. Finally, Paloma Partners Management Co bought a new stake in OLO during the 2nd quarter worth approximately $262,000. Institutional investors and hedge funds own 47.07% of the company’s stock.

Several research firms have recently weighed in on OLO. Piper Sandler upped their target price on shares of OLO from $35.00 to $39.00 and gave the stock an “overweight” rating in a report on Wednesday, August 11th. Stifel Nicolaus raised shares of OLO from a “hold” rating to a “buy” rating and upped their target price for the stock from $27.00 to $41.00 in a report on Wednesday, August 11th. Finally, Royal Bank of Canada upped their target price on shares of OLO from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, August 9th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $36.00.

OLO Company Profile

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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