OLO (NYSE:OLO) Sets New 1-Year High - What's Next?

Olo Inc. (NYSE:OLO - Get Free Report)'s stock price hit 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.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of OLO from a "buy" rating to a "hold" rating in a research report on Friday, November 22nd.

OLO Trading Up 0.4 %

The stock's 50 day moving average is $5.50 and its 200 day moving average is $5.04. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -72.89 and a beta of 1.26.

Insider Buying and Selling

In other news, CFO Peter J. Benevides sold 10,530 shares of the firm'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 $51,597.00. Following the transaction, the chief financial officer now directly owns 414,403 shares in the company, valued at $2,030,574.70. This trade represents a 2.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Joanna G. Lambert sold 67,403 shares of the business's 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 $330,274.70. Following the sale, the chief operating officer now owns 591,646 shares of the company's stock, valued at approximately $2,899,065.40. This represents a 10.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,148 shares of company stock worth $554,425. 39.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in OLO. Federated Hermes Inc. raised its stake in shares of OLO by 644,200.0% during the second quarter. Federated Hermes Inc. now owns 6,443 shares of the company's stock valued at $28,000 after purchasing an additional 6,442 shares during the period. Wallace Advisory Group LLC acquired a new stake in OLO during the 2nd quarter valued at $57,000. Point72 DIFC Ltd increased its stake in OLO by 52.7% during the 2nd quarter. Point72 DIFC Ltd now owns 14,388 shares of the company's stock worth $64,000 after buying an additional 4,964 shares during the period. SPC Financial Inc. purchased a new stake in OLO during the 3rd quarter worth $65,000. Finally, Point72 Asset Management L.P. acquired a new position in OLO in the 3rd quarter worth $74,000. 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.