Saturday, June 25, 2022

A company insider recently sold 19,325 shares of Olo Inc. [OLO]. Should You Sale?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Olo Inc. shares valued at $206,787 were sold by Hahnfeld Marty D. on Jun 09. At $10.70 per share, Hahnfeld Marty D. sold 19,325 shares. The insider’s holdings dropped to 603,292 shares worth approximately $5.68 million following the completion of this transaction.

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Also, Hahnfeld Marty D. sold 19,325 shares, netting a total of over 214,305 in proceeds. Following the sale of shares at $11.09 each, the insider now holds 603,292 shares.

Before that, Benevides Peter J. had sold 1,702 shares from its account. In a trade valued at $18,499, the Chief Financial Officer traded Olo Inc. shares for $10.87 each. Upon closing the transaction, the insider’s holdings decreased to 1,702 shares, worth approximately $1.44 million.

As published in a research note from Stifel on August 11, 2021, Olo Inc. [OLO] has been rated up from a Hold to a Buy and the price target has been revised to $41 from $27. This represents a 77.05% premium over Wednesday’s closing price. Analysts at William Blair started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid April. As of April 12, 2021, Truist has initiated its “Buy” rating for OLO. Earlier on April 12, 2021, Stifel initiated its rating. Their recommendation was “a Hold” for OLO stock.

Analyzing OLO’s Price Performance

On Wednesday, Olo Inc. [NYSE: OLO] plunged -1.67% to $9.41. The stock’s lowest price that day was $9.29, but it reached a high of $9.74 in the same session. During the last five days, there has been a surge of approximately 2.62%. Over the course of the year, Olo Inc. shares have dropped approximately -54.78%. Shares of the company reached a 52-week high of $21.43 on 01/04/22 and a 52-week low of $8.11 on 05/11/22. A 50-day SMA is recorded $10.69, while a 200-day SMA reached $19.20. Nevertheless, trading volume fell to 1.65 million shares from 1.48 million shares the previous day.

Support And Resistance Levels for Olo Inc. (OLO)

According to the 24-hour chart, there is a support level at 9.22, which, if violated, would cause prices to drop to 9.03. In the upper region, resistance lies at 9.67. The next price resistance is at 9.93. RSI (Relative Strength Index) is 41.87 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.48, which suggests the price will decrease in the coming days. Percent R is at 79.27%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Which companies own the most shares of Olo Inc. (OLO)?

According to Wellington Management Co. LLP filings, the company currently owns 9,600,149 shares, which is about 10.53% of the total OLO shares outstanding. The investor’s shares have appreciated by 1,975,221 from its previous 13-F filing of 7624928.0 shares. With the completion of the buy, Brown Capital Management LLC’s stake is now worth $89,189,831. The Vanguard Group, Inc. acquire a 35.28% interest valued at $68.47 million while Allspring Global Investments LLC purchased a 1,753,799 stake. A total of 0 shares of Olo Inc. were bought by Capital Research & Management Co during the quarter, and 1,641,735 were bought by Nine Ten Capital Management LLC. In its current portfolio, Tiger Global Management LLC holds 3,613,044 shares valued at $38.48 million.

In terms of Olo Inc. share price expectations, FactSet research, analysts set an average price target of $17.80 in the next 12 months, up nearly 77.64% from the previous closing price of $9.57. Analysts anticipate Olo Inc. stock to reach $25.00 by 2022, with the lowest price target being $12.00. In spite of this, 6 analysts ranked Olo Inc. stock as a Buy at the end of 2022. On April 12, 2021, RBC Capital Mkts assigned a price target of “an Outperform” to the stock and initiated coverage with a $32.

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