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

Olo Inc. (NYSE:OLO) reached a new 52-week high on Friday . The stock traded as high as $7.49 and last traded at $7.49, with a volume of 239 shares trading hands. The stock had previously closed at $7.26.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut OLO from a “buy” rating to a “hold” rating in a research note on Friday, November 22nd.

OLO Stock Performance

The company has a market capitalization of $1.19 billion, a PE ratio of -72.89 and a beta of 1.26. The business’s 50-day moving average is $5.54 and its 200-day moving average is $5.06.

Insider Activity

In related news, CRO Diego Panama sold 13,555 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $4.90, for a total transaction of $66,419.50. Following the sale, the executive now directly owns 569,859 shares of the company’s stock, valued at approximately $2,792,309.10. This represents a 2.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Joanna G. Lambert sold 67,403 shares of OLO stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $4.90, for a total transaction of $330,274.70. Following the completion of the transaction, the chief operating officer now directly owns 591,646 shares of the company’s stock, valued at $2,899,065.40. This trade represents a 10.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,148 shares of company stock worth $554,425. Insiders own 39.33% of the company’s stock.

Hedge Funds Weigh In On OLO

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in OLO by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 12,739,568 shares of the company’s stock worth $69,940,000 after buying an additional 319,544 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings 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 valued at $265,000 after purchasing an additional 4,382 shares during the last quarter. SG Americas Securities LLC bought a new stake in OLO in the 2nd quarter worth approximately $249,000. Conestoga Capital Advisors LLC raised its stake in OLO by 30.6% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 310,310 shares of the company’s stock valued at $1,372,000 after buying an additional 72,685 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of OLO by 3.3% during the 2nd quarter. Rhumbline Advisers now owns 153,760 shares of the company’s stock valued at $680,000 after buying an additional 4,979 shares during the period. 93.40% of the stock is owned by institutional investors.

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.