OLO (NYSE:OLO) Sets New 52-Week High – Here’s Why

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on OLO shares. Piper Sandler reaffirmed an “overweight” rating and issued a $8.00 price objective on shares of OLO in a research note on Thursday, August 1st. StockNews.com lowered shares of OLO from a “buy” rating to a “hold” rating in a research report on Friday, November 22nd. Finally, Lake Street Capital upped their price target on OLO from $8.50 to $9.00 and gave the company a “buy” rating in a report on Thursday, August 1st.

OLO Price Performance

The stock has a 50 day moving average of $5.46 and a two-hundred day moving average of $5.02.

Insider Transactions at OLO

In related news, insider Sherri Manning sold 9,356 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 $45,844.40. Following the completion of the sale, the insider now directly owns 148,414 shares of the company’s stock, valued at approximately $727,228.60. This represents a 5.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Diego Panama sold 13,555 shares of OLO 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 transaction, 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 position. 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 over the last ninety days. Corporate insiders own 39.33% of the company’s stock.

Institutional Trading of OLO

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in OLO by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 12,739,568 shares of the company’s stock valued at $69,940,000 after buying an additional 319,544 shares during the period. 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 worth $265,000 after acquiring an additional 4,382 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in shares of OLO during the first quarter worth $188,000. SG Americas Securities LLC acquired a new stake in OLO during the second quarter valued at $249,000. Finally, Conestoga Capital Advisors LLC grew its stake in OLO by 30.6% in the second quarter. Conestoga Capital Advisors LLC now owns 310,310 shares of the company’s stock valued at $1,372,000 after purchasing an additional 72,685 shares in the last quarter. 93.40% of the stock is owned by hedge funds and other institutional investors.

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.