OLO (NYSE:OLO) Sets New 12-Month High – Time to Buy?

Olo Inc. (NYSE:OLO) shares hit a new 52-week high on Friday . The company traded as high as $7.15 and last traded at $7.14, with a volume of 198307 shares trading hands. The stock had previously closed at $7.00.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on OLO. Lake Street Capital raised their price target on OLO from $8.50 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. StockNews.com raised shares of OLO from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $8.00 target price on shares of OLO in a report on Thursday, August 1st.

OLO Price Performance

The business has a 50-day simple moving average of $5.28 and a 200 day simple moving average of $4.95. The firm has a market cap of $1.18 billion, a PE ratio of -69.99 and a beta of 1.26.

Insiders Place Their Bets

In other news, CRO Diego Panama sold 13,555 shares of the company’s 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 completion of the transaction, the executive now owns 569,859 shares of the company’s stock, valued at $2,792,309.10. This represents a 2.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Joanna G. Lambert sold 67,403 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 $330,274.70. Following the sale, the chief operating officer now owns 591,646 shares of the company’s stock, valued at $2,899,065.40. This represents a 10.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,148 shares of company stock worth $554,425 over the last three months. 39.33% of the stock is currently owned by company insiders.

Institutional Trading of OLO

Several institutional investors have recently made changes to their positions in OLO. Vanguard Group Inc. grew its position in shares of OLO by 2.6% during the first quarter. Vanguard Group Inc. now owns 12,739,568 shares of the company’s stock worth $69,940,000 after purchasing an additional 319,544 shares in the last quarter. Quadrature Capital Ltd grew its position in shares of OLO by 73.5% during the first quarter. Quadrature Capital Ltd now owns 87,457 shares of the company’s stock worth $480,000 after purchasing an additional 37,063 shares in the last quarter. Price T Rowe Associates Inc. MD grew 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. Silvercrest Asset Management Group LLC grew its holdings in OLO by 3.2% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 876,961 shares of the company’s stock valued at $4,815,000 after buying an additional 26,919 shares in the last quarter. Finally, Bayesian Capital Management LP bought a new stake in OLO in the 1st quarter worth approximately $188,000. Hedge funds and other institutional investors own 93.40% of the company’s stock.

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.