12,867 Shares in Olo Inc. (NYSE:OLO) Acquired by Wallace Advisory Group LLC

Wallace Advisory Group LLC purchased a new position in shares of Olo Inc. (NYSE:OLO) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 12,867 shares of the company’s stock, valued at approximately $57,000.

Several other large investors have also recently made changes to their positions in the company. Diversified Trust Co increased its position in shares of OLO by 8.8% during the first quarter. Diversified Trust Co now owns 28,207 shares of the company’s stock worth $155,000 after purchasing an additional 2,285 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of OLO by 6.1% during the second quarter. The Manufacturers Life Insurance Company now owns 42,023 shares of the company’s stock worth $186,000 after purchasing an additional 2,433 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of OLO by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 39,636 shares of the company’s stock worth $218,000 after purchasing an additional 3,340 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of OLO by 10.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 48,240 shares of the company’s stock worth $265,000 after purchasing an additional 4,382 shares in the last quarter. Finally, Point72 DIFC Ltd grew its holdings in OLO by 52.7% in the 2nd quarter. Point72 DIFC Ltd now owns 14,388 shares of the company’s stock valued at $64,000 after buying an additional 4,964 shares in the last quarter. 93.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CRO Diego Panama sold 13,555 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $4.90, for a total value of $66,419.50. Following the transaction, the executive now owns 569,859 shares of the company’s stock, valued at approximately $2,792,309.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Peter J. Benevides sold 10,530 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $4.90, for a total transaction of $51,597.00. Following the transaction, the chief financial officer now owns 414,403 shares of the company’s stock, valued at approximately $2,030,574.70. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CRO Diego Panama sold 13,555 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $4.90, for a total value of $66,419.50. Following the transaction, the executive now directly owns 569,859 shares in the company, valued at approximately $2,792,309.10. The disclosure for this sale can be found here. Insiders have sold a total of 113,148 shares of company stock valued at $554,425 in the last quarter. Insiders own 39.33% of the company’s stock.

OLO Stock Up 1.5 %

Shares of OLO stock opened at $4.97 on Tuesday. Olo Inc. has a 52 week low of $4.20 and a 52 week high of $6.84. The business’s fifty day simple moving average is $5.08 and its 200-day simple moving average is $4.88. The firm has a market cap of $804.88 million, a PE ratio of -17.12 and a beta of 1.28.

OLO (NYSE:OLO) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05. OLO had a negative return on equity of 0.47% and a negative net margin of 9.36%. The business had revenue of $70.50 million for the quarter, compared to analyst estimates of $67.79 million. During the same quarter in the prior year, the company posted ($0.04) EPS. The company’s quarterly revenue was up 27.6% on a year-over-year basis. As a group, equities analysts expect that Olo Inc. will post -0.06 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on OLO. Piper Sandler restated an “overweight” rating and issued a $8.00 target price on shares of OLO in a report on Thursday, August 1st. StockNews.com upgraded OLO from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Finally, Lake Street Capital upped their target price on OLO from $8.50 to $9.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, OLO currently has an average rating of “Moderate Buy” and an average target price of $8.67.

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.