Openlane (NYSE:OPLN) EVP Sells $2,549,840.52 in Stock

Openlane (NYSE:OPLN) EVP James Coyle sold 88,444 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $28.83, for a total transaction of $2,549,840.52. Following the transaction, the executive vice president directly owned 63,869 shares of the company’s stock, valued at $1,841,343.27. The trade was a 58.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Openlane Trading Up 2.9%

Openlane stock opened at $26.90 on Thursday. The company has a market capitalization of $2.86 billion, a P/E ratio of -22.60, a P/E/G ratio of 1.22 and a beta of 1.24. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.16 and a quick ratio of 1.16. Openlane has a fifty-two week low of $17.08 and a fifty-two week high of $31.78.

Openlane (NYSE:OPLN) last released its quarterly earnings results on Wednesday, February 18th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). The firm had revenue of $494.30 million for the quarter. Openlane had a return on equity of 12.74% and a net margin of 9.19%.The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 EPS. Openlane has set its FY 2026 guidance at 1.240-1.380 EPS.

Analysts Set New Price Targets

Several analysts have recently issued reports on OPLN shares. Barclays increased their price target on shares of Openlane from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 21st. Zacks Research cut shares of Openlane from a “hold” rating to a “strong sell” rating in a research report on Monday. Stephens upped their price objective on Openlane from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. increased their price objective on Openlane from $28.00 to $29.00 and gave the company a “neutral” rating in a research note on Thursday, February 19th. Finally, Weiss Ratings started coverage on Openlane in a research note on Thursday, January 15th. They set a “buy (b-)” rating for the company. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $33.33.

Institutional Investors Weigh In On Openlane

Several institutional investors have recently modified their holdings of OPLN. Salomon & Ludwin LLC purchased a new position in Openlane in the fourth quarter valued at $26,000. First Horizon Corp acquired a new position in shares of Openlane during the 4th quarter worth about $27,000. Allworth Financial LP acquired a new position in shares of Openlane during the 4th quarter worth about $38,000. Nomura Asset Management Co. Ltd. purchased a new position in shares of Openlane in the 4th quarter valued at about $39,000. Finally, Fifth Third Bancorp acquired a new stake in shares of Openlane during the 4th quarter worth about $40,000. 99.76% of the stock is owned by hedge funds and other institutional investors.

Openlane Company Profile

Openlane, Inc operates a digital wholesale vehicle marketplace that facilitates the remarketing of used vehicles for commercial consignors and retail dealers. The company provides an online auction platform that enables buyers and sellers to transact in real time, connecting franchised and independent dealers, fleet operators, rental companies, manufacturers and financial institutions. Its marketplace focuses on vehicles from lease returns, fleet and commercial fleets, repossessions and dealer trade-ins.

In addition to the core auction and listing services, Openlane offers a suite of remarketing support services designed to simplify the end-to-end sale process.