OLO (NYSE:OLO) Hits New 1-Year High - Time to Buy?

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Lake Street Capital boosted their price objective on OLO from $8.50 to $9.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. StockNews.com lowered shares of OLO from a "buy" rating to a "hold" rating in a report on Friday. Finally, Piper Sandler restated an "overweight" rating and issued a $8.00 price target on shares of OLO in a research note on Thursday, August 1st.

OLO Stock Up 2.4 %

The business's fifty day simple moving average is $5.32 and its two-hundred day simple moving average is $4.97. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -71.70 and a beta of 1.26.

Insiders Place Their Bets

In other 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 completion of the sale, the executive now owns 569,859 shares in the company, valued at approximately $2,792,309.10. This represents a 2.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Noah H. Glass sold 10,423 shares of the business's stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $4.90, for a total value of $51,072.70. Following the completion of the transaction, the chief executive officer now owns 312,393 shares in the company, valued at $1,530,725.70. This trade represents a 3.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,148 shares of company stock valued at $554,425. 39.33% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of OLO. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of OLO by 52.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,410,528 shares of the company's stock worth $6,996,000 after purchasing an additional 487,919 shares during the period. Essex Investment Management Co. LLC acquired a new position in OLO during the 3rd quarter worth approximately $2,236,000. Algert Global LLC raised its stake in shares of OLO by 114.0% during the 2nd quarter. Algert Global LLC now owns 710,319 shares of the company's stock worth $3,140,000 after buying an additional 378,368 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of OLO by 154.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 567,864 shares of the company's stock valued at $2,510,000 after buying an additional 344,676 shares during the period. Finally, Landscape Capital Management L.L.C. acquired a new position in OLO during the third quarter worth $1,600,000. 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.