Openlane (NYSE:OPLN) Insider Sells $234,260.00 in Stock

Openlane (NYSE:OPLN) insider William Clyde Mitchell sold 6,500 shares of Openlane stock in a transaction that occurred 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 transaction, the insider directly owned 15,914 shares in the company, valued at approximately $573,540.56. This trade represents a 29.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Openlane Price Performance

OPLN stock traded down $0.39 during midday trading on Friday, reaching $35.34. 144,872 shares of the company’s stock traded hands, compared to its average volume of 904,000. The company has a market cap of $3.74 billion, a P/E ratio of -34.65, a P/E/G ratio of 1.84 and a beta of 1.22. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.16 and a quick ratio of 1.16. Openlane has a fifty-two week low of $21.84 and a fifty-two week high of $38.52. The stock’s 50-day simple moving average is $30.43.

Openlane (NYSE:OPLN) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Openlane had a net margin of 9.47% and a return on equity of 13.00%. The firm had revenue of $527.90 million for the quarter. During the same period last year, the firm earned $0.31 earnings per share. The company’s quarterly revenue was up 14.8% on a year-over-year basis. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. As a group, research analysts forecast that Openlane will post 1.3 earnings per share for the current fiscal year.

Institutional Trading of Openlane

Institutional investors have recently added to or reduced their stakes in the business. New York State Teachers Retirement System bought a new stake in Openlane during the fourth quarter valued at $2,152,000. Nicholas Company Inc. bought a new stake in Openlane during the fourth quarter valued at $6,380,000. Comerica Bank bought a new stake in Openlane during the fourth quarter valued at $951,000. Paradice Investment Management LLC bought a new stake in Openlane during the fourth quarter valued at $23,837,000. Finally, Vanguard Group Inc. bought a new stake in Openlane during the fourth quarter valued at $348,271,000. Institutional investors own 99.76% of the company’s stock.

Wall Street Analyst Weigh In

OPLN has been the topic of a number of recent research reports. Stephens boosted their target price on shares of Openlane from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. Northcoast Research set a $40.00 target price on shares of Openlane in a research report 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. Barclays lifted their price target on shares of Openlane from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Openlane from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.