OLO (NYSE:OLO) Raised to Buy at StockNews.com

StockNews.com upgraded shares of OLO (NYSE:OLO) from a hold rating to a buy rating in a research report report published on Monday.

OLO Stock Up 1.4 %

OLO stock opened at $7.34 on Monday. OLO has a twelve month low of $4.20 and a twelve month high of $7.47. The company has a market cap of $1.20 billion, a PE ratio of -73.39 and a beta of 1.46. The business’s 50-day simple moving average is $5.63 and its 200 day simple moving average is $5.09.

Insider Buying and Selling

In other OLO news, CRO Diego Panama sold 13,555 shares of OLO stock in a transaction that occurred on Friday, September 6th. The stock was 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. The trade was a 2.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sherri Manning sold 9,356 shares of OLO stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $4.90, for a total value of $45,844.40. Following the sale, the insider now directly owns 148,414 shares in the company, valued at $727,228.60. The trade was a 5.93 % decrease in their ownership of the stock. 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 three months. 39.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On OLO

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

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.