William Clyde Mitchell Sells 6,500 Shares of Openlane (NYSE:OPLN) Stock

Openlane (NYSE:OPLN) insider William Clyde Mitchell sold 6,500 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $36.04, for a total transaction of $234,260.00. Following the sale, the insider owned 15,914 shares of the company’s stock, valued at approximately $573,540.56. The trade was a 29.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Openlane Stock Performance

Shares of Openlane stock traded down $0.39 during trading on Friday, hitting $35.34. 144,872 shares of the stock were exchanged, compared to its average volume of 904,000. The company has a fifty day moving average of $30.43. The stock has a market cap of $3.74 billion, a PE ratio of -34.65, a PEG ratio of 1.84 and a beta of 1.22. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.42. Openlane has a 12 month low of $21.84 and a 12 month high of $38.52.

Openlane (NYSE:OPLN) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.32 by $0.03. The business had revenue of $527.90 million during the quarter. Openlane had a net margin of 9.47% and a return on equity of 13.00%. The firm’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.31 EPS. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. Sell-side analysts anticipate that Openlane will post 1.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Openlane from $31.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Robert W. Baird set a $40.00 price objective on shares of Openlane in a report on Wednesday, May 6th. Northcoast Research set a $40.00 price objective on shares of Openlane in a report on Wednesday, May 6th. Stephens upped their price objective on shares of Openlane from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, January 23rd. Finally, Wall Street Zen raised shares of Openlane from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Openlane currently has an average rating of “Moderate Buy” and a consensus price target of $38.00.

Institutional Trading of Openlane

Several institutional investors and hedge funds have recently bought and sold shares of OPLN. Salomon & Ludwin LLC acquired a new stake in Openlane during the 4th quarter worth about $26,000. First Horizon Corp acquired a new stake in Openlane during the 4th quarter worth about $27,000. Allworth Financial LP acquired a new stake in Openlane during the 4th quarter worth about $38,000. Nomura Asset Management Co. Ltd. acquired a new stake in Openlane during the 4th quarter worth about $39,000. Finally, Fifth Third Bancorp acquired a new stake in Openlane during the 4th quarter worth about $40,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

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.