OLO (NYSE:OLO) Hits New 12-Month High – Here’s Why

Olo Inc. (NYSE:OLO)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $7.15 and last traded at $7.14, with a volume of 198307 shares changing hands. The stock had previously closed at $7.00.

Analyst Upgrades and Downgrades

OLO has been the topic of a number of research analyst reports. StockNews.com lowered OLO from a “buy” rating to a “hold” rating in a research report on Friday. Lake Street Capital lifted their price target on shares of OLO from $8.50 to $9.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Piper Sandler reissued an “overweight” rating and set a $8.00 price objective on shares of OLO in a research report on Thursday, August 1st.

OLO Price Performance

The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -71.70 and a beta of 1.26. The firm has a 50-day moving average price of $5.32 and a two-hundred day moving average price of $4.97.

Insiders Place Their Bets

In other OLO news, insider Sherri Manning sold 9,356 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $4.90, for a total transaction of $45,844.40. Following the sale, the insider now directly owns 148,414 shares of the company’s stock, valued at $727,228.60. The trade was a 5.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CRO Diego Panama sold 13,555 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $4.90, for a total value of $66,419.50. Following the completion of the transaction, the executive now owns 569,859 shares of the company’s stock, valued at $2,792,309.10. The trade was a 2.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,148 shares of company stock valued at $554,425 in the last quarter. 39.33% of the stock is currently owned by insiders.

Institutional Trading of OLO

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of OLO by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 12,739,568 shares of the company’s stock worth $69,940,000 after purchasing an additional 319,544 shares during the last quarter. Renaissance Technologies LLC increased its holdings in OLO by 17.2% during the second quarter. Renaissance Technologies LLC now owns 1,170,500 shares of the company’s stock worth $5,174,000 after buying an additional 171,700 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in OLO by 154.4% during the second quarter. Cubist Systematic Strategies LLC now owns 567,864 shares of the company’s stock worth $2,510,000 after buying an additional 344,676 shares during the last quarter. SG Americas Securities LLC acquired a new stake in OLO in the second quarter valued at $249,000. Finally, Clearline Capital LP lifted its stake in OLO by 325.8% in the second quarter. Clearline Capital LP now owns 169,737 shares of the company’s stock valued at $750,000 after acquiring an additional 129,874 shares during the last quarter. Institutional investors own 93.40% of the company’s stock.

OLO Company Profile

Olo Inc operates an open SaaS platform for restaurants in the United States. The company’s platform enables on-demand digital commerce operations, which cover digital ordering, delivery, front-of-house management, and payments. Its solutions include Order, a suite of solutions powering restaurant brands’ on-demand commerce operations, enabling digital ordering, delivery, and channel management through ordering, dispatch, rails, switchboard, network, virtual brands, kiosk, catering, and sync modules; Engage, a suite of restaurant-centric marketing solutions optimizing guest lifetime value by strengthening and enhancing the restaurants’ direct guest relationships, through the guest data platform, marketing, sentiment, and host modules; and Pay, a frictionless payment platform that enables restaurants to grow and protect their digital business through customer payment experience that offers advanced fraud prevention to improve authorization rates for valid transactions, and increase basket conversion through its Olo Pay module.