Openlane (NYSE:OPLN) EVP James Coyle Sells 15,000 Shares of Stock

Openlane (NYSE:OPLN) EVP James Coyle sold 15,000 shares of Openlane stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $35.77, for a total transaction of $536,550.00. Following the completion of the transaction, the executive vice president directly owned 58,512 shares of the company’s stock, valued at approximately $2,092,974.24. This represents a 20.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Openlane Price Performance

Openlane stock opened at $37.91 on Friday. The firm has a market capitalization of $4.02 billion, a P/E ratio of -37.16 and a beta of 1.22. The stock has a fifty day simple moving average of $29.59. 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 $21.62 and a 12 month high of $38.49.

Openlane (NYSE:OPLN) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. The firm 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 business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 EPS. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. Equities research analysts anticipate that Openlane will post 1.34 earnings per share for the current year.

Institutional Investors Weigh In On Openlane

Several hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its position in Openlane by 6.8% in the first quarter. PNC Financial Services Group Inc. now owns 5,549 shares of the company’s stock worth $162,000 after acquiring an additional 353 shares in the last quarter. Illinois Municipal Retirement Fund raised its position in Openlane by 3.9% in the first quarter. Illinois Municipal Retirement Fund now owns 54,740 shares of the company’s stock worth $1,596,000 after acquiring an additional 2,079 shares in the last quarter. Principal Financial Group Inc. raised its position in Openlane by 2.0% in the first quarter. Principal Financial Group Inc. now owns 516,406 shares of the company’s stock worth $15,053,000 after acquiring an additional 9,994 shares in the last quarter. Fifth Third Bancorp raised its position in Openlane by 2,495.1% in the first quarter. Fifth Third Bancorp now owns 35,163 shares of the company’s stock worth $1,025,000 after acquiring an additional 33,808 shares in the last quarter. Finally, Equitable Trust Co. raised its position in Openlane by 35.9% in the first quarter. Equitable Trust Co. now owns 17,220 shares of the company’s stock worth $502,000 after acquiring an additional 4,552 shares in the last quarter. 99.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

OPLN has been the subject of a number of research reports. Stephens lifted 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. JPMorgan Chase & Co. boosted their price target on shares of Openlane from $31.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday. Weiss Ratings downgraded shares of Openlane from a “buy (b)” rating to a “hold (c)” rating in a report on Tuesday, March 3rd. Barclays boosted their price target on shares of Openlane from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Robert W. Baird set a $40.00 price target on shares of Openlane in a report on Wednesday. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.