OLO (Olo Inc.) may reap gains as insiders became active recently

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MDNA
MDNA

Olo Inc.’s recent filing unveils that its Chief Financial Officer Benevides Peter J. unloaded Company’s shares for reported $13084.0 on Sep 06. In the deal valued at $7.62 per share,1,717 shares were sold. As a result of this transaction, Benevides Peter J. now holds 151,249 shares worth roughly $ 1.24 million.


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Then, Das Nithya B. sold 1,321 shares, generating $10,053 in total proceeds. Upon selling the shares at $7.61, the COO and Chief Legal Officer now owns 55,873 shares.

Before that, Glass Noah H. sold 3,758 shares. Olo Inc. shares valued at $28,598 were divested by the CEO at a price of $7.61 per share. As a result of the transaction, Glass Noah H. now holds 138,293 shares, worth roughly $1.13 million.

Goldman initiated its Olo Inc. [OLO] rating to a Neutral in a research note published on Monday, October 19, 2022; the price target was $8.50. PT values the company’s stock at a premium of 3.76 to its Monday closing price. A number of analysts have revised their coverage, including Stifel’s analysts, who decreased its forecast for the stock in mid August from “a Buy” to “a Hold”. Piper Sandler also remained covering OLO and has decreased its forecast on August 12, 2022 with a “Neutral” recommendation from previously “an Overweight” rating. Stifel revised its rating on August 11, 2021. It rated OLO as “a Buy” which previously was an “a Hold”.

Price Performance Review of OLO

On Monday, Olo Inc. [NYSE:OLO] saw its stock jump 2.00% to $8.18. On the same session, the stock had its day’s lowest price of $7.83, but rose to a high of $8.45. Over the last five days, the stock has lost -7.15%. Olo Inc. shares have fallen nearly -60.69% since the year began. Nevertheless, the stocks have fallen -70.72% over the past one year. While a 52-week high of $32.76 was reached on 01/04/22, a 52-week low of $7.16 was recorded on 08/22/22. SMA at 50 days reached $8.07, while 200 days put it at $11.04. A total of 1.99 million shares were traded, compared to the trading of 1.07 million shares in the previous session.

Levels Of Support And Resistance For OLO Stock

The 24-hour chart illustrates a support level at 7.86, which if violated will result in even more drops to 7.53. On the upside, there is a resistance level at 8.48. A further resistance level may holdings at 8.77. The Relative Strength Index (RSI) on the 14-day chart is 47.92, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.25, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 67.35%. Stochastics %K at 29.58% indicates the stock is a holding.

How much short interest is there in Olo Inc.?

A steep rise in short interest was recorded in Olo Inc. stocks on Jul 14, 2022, growing by 2.4 million shares to a total of 13.61 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 11.21 million shares. There was a rise of 17.63%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 15.25% of the overall stock float, the days-to-cover ratio (short ratio) rose to 7.88.

Olo Inc. [OLO] – Who Are The Largest Shareholders?

In filings from Brown Capital Management LLC, it is revealed that the company now owns 11,275,778 shares, or roughly 11.02% of the outstanding OLO shares. In other words, the investor’s shares have risen by 2,901,146 from its previous 13-F filing of 8374632.0. Additionally, Wellington Management Co. LLP increased 14.80% of its stake after which the total value it holdings stand at $87,068,855, while The Vanguard Group, Inc. added 27.88% of its stake to hold $64.95 million in the firm. Over the last quarter, Nine Ten Capital Management LLC purchased 1,576,210 shares of Olo Inc., while BlackRock Fund Advisors bought 4,432,218 shares. At present, Tiger Global Management LLC is holding 4,498,162 shares valued at $35.54 million. Morgan Stanley Investment Managem owned 3,852,214 shares of the company at the time of its most recent 13F filing, worth $30.43 million.

The most recent change occurred on April 12, 2021 when William Blair began covering the stock and recommended ‘”an Outperform”‘ rating.

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