StockNews.com Downgrades OLO (NYSE:OLO) to Hold

OLO (NYSE:OLO) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

Several other research analysts have also weighed in on the stock. Lake Street Capital increased their target price on shares of OLO from $8.50 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Piper Sandler reiterated an “overweight” rating and issued a $8.00 target price on shares of OLO in a report on Thursday, August 1st.

OLO Stock Up 2.4 %

Shares of OLO stock opened at $7.17 on Friday. The firm has a market cap of $1.17 billion, a PE ratio of -71.70 and a beta of 1.26. OLO has a 52 week low of $4.20 and a 52 week high of $7.26. The business’s fifty day simple moving average is $5.32 and its 200-day simple moving average is $4.97.

Insiders Place Their Bets

In other news, CRO Diego Panama sold 13,555 shares of the 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 sale, the executive now directly owns 569,859 shares in the company, valued at approximately $2,792,309.10. This trade represents a 2.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Joanna G. Lambert sold 67,403 shares of the business’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 $330,274.70. Following the transaction, the chief operating officer now directly owns 591,646 shares of the company’s stock, valued at $2,899,065.40. The trade was a 10.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,148 shares of company stock worth $554,425 over the last three months. Company insiders own 39.33% of the company’s stock.

Institutional Trading of OLO

Hedge funds have recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in OLO by 399.3% during the 3rd quarter. Barclays PLC now owns 190,335 shares of the company’s stock worth $943,000 after acquiring an additional 152,214 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of OLO by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,444,805 shares of the company’s stock worth $12,130,000 after purchasing an additional 42,318 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of OLO during the third quarter worth $631,000. XTX Topco Ltd increased its holdings in OLO by 478.6% in the third quarter. XTX Topco Ltd now owns 168,577 shares of the company’s stock valued at $836,000 after buying an additional 139,441 shares during the last quarter. Finally, Zacks Investment Management raised its stake in OLO by 26.7% in the third quarter. Zacks Investment Management now owns 82,699 shares of the company’s stock valued at $410,000 after buying an additional 17,447 shares in the last quarter. Institutional investors and hedge funds own 93.40% of the company’s stock.

About OLO

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.