Insider Selling: Openlane (NYSE:OPLN) EVP Sells 4,000 Shares of Stock

Openlane (NYSE:OPLN) EVP Tobin Richer sold 4,000 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $38.31, for a total transaction of $153,240.00. Following the sale, the executive vice president owned 24,697 shares in the company, valued at approximately $946,142.07. This trade represents a 13.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Openlane Trading Down 2.3%

OPLN traded down $0.86 on Monday, hitting $37.03. 1,024,195 shares of the company’s stock were exchanged, compared to its average volume of 855,214. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of -36.30 and a beta of 1.22. Openlane has a twelve month low of $21.84 and a twelve month high of $38.52. The company’s fifty day simple moving average is $29.98. 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 (NYSE:OPLN) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.03. The firm had revenue of $527.90 million for the quarter. Openlane had a net margin of 9.47% and a return on equity of 13.00%. Openlane’s revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.31 EPS. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. On average, analysts predict that Openlane will post 1.34 EPS for the current year.

Institutional Trading of Openlane

A number of large investors have recently added to or reduced their stakes in OPLN. Salomon & Ludwin LLC acquired a new position in Openlane in the 4th quarter worth approximately $26,000. First Horizon Corp acquired a new position in Openlane in the 4th quarter worth approximately $27,000. Allworth Financial LP acquired a new position in Openlane in the 4th quarter worth approximately $38,000. Nomura Asset Management Co. Ltd. acquired a new position in Openlane in the 4th quarter worth approximately $39,000. Finally, Fifth Third Bancorp purchased a new stake in Openlane in the 4th quarter worth approximately $40,000. 99.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on OPLN shares. Northcoast Research set a $40.00 price objective on shares of Openlane in a research note on Wednesday, May 6th. Zacks Research upgraded shares of Openlane from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. JPMorgan Chase & Co. increased their price objective on shares of Openlane from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday. Robert W. Baird set a $40.00 price target on shares of Openlane in a research note on Wednesday, May 6th. Finally, Weiss Ratings lowered shares of Openlane from a “buy (b)” rating to a “hold (c)” rating in a research note on Tuesday, March 3rd. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

About Openlane

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.