Olo Inc. (NYSE:OLO) Receives Average Rating of “Hold” from Brokerages

Olo Inc. (NYSE:OLO – Get Rating) has earned an average rating of “Hold” from the eight ratings firms that are covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $11.58.

Several analysts have commented on the company. StockNews.com initiated coverage on OLO in a report on Thursday. They issued a “hold” rating for the company. Royal Bank of Canada boosted their target price on shares of OLO from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Thursday, February 23rd. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $9.00 price target on shares of OLO in a research note on Tuesday, March 7th.

OLO Stock Down 4.1 %

Shares of NYSE:OLO opened at $7.51 on Friday. The company has a market cap of $1.21 billion, a P/E ratio of -26.82 and a beta of 1.21. The business has a fifty day simple moving average of $7.79 and a 200-day simple moving average of $7.65. OLO has a 52 week low of $5.74 and a 52 week high of $14.29.

Insiders Place Their Bets

In related news, CRO Diego Panama sold 11,826 shares of the stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $8.04, for a total value of $95,081.04. Following the completion of the sale, the executive now directly owns 680,606 shares in the company, valued at approximately $5,472,072.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CRO Diego Panama sold 11,826 shares of the firm’s stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $8.04, for a total transaction of $95,081.04. Following the sale, the executive now directly owns 680,606 shares in the company, valued at approximately $5,472,072.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Noah H. Glass sold 8,918 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $7.80, for a total value of $69,560.40. Following the completion of the transaction, the chief executive officer now owns 310,880 shares of the company’s stock, valued at approximately $2,424,864. The disclosure for this sale can be found here. Insiders sold a total of 34,491 shares of company stock worth $271,782 over the last ninety days. 40.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On OLO

A number of large investors have recently added to or reduced their stakes in OLO. Lazard Asset Management LLC acquired a new stake in OLO during the 4th quarter valued at approximately $29,000. State of Wyoming grew its position in shares of OLO by 41.7% during the fourth quarter. State of Wyoming now owns 5,317 shares of the company’s stock worth $33,000 after buying an additional 1,566 shares in the last quarter. Clear Street Markets LLC bought a new stake in shares of OLO in the fourth quarter worth $40,000. Janney Montgomery Scott LLC acquired a new stake in OLO in the fourth quarter valued at $63,000. Finally, Point72 Hong Kong Ltd bought a new position in OLO during the 3rd quarter valued at $64,000. 80.93% of the stock is owned by institutional investors and hedge funds.

About OLO

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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.