Openlane (NYSE:OPLN) EVP James Coyle Sells 80,755 Shares of Stock

Openlane (NYSE:OPLN) EVP James Coyle sold 80,755 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $35.21, for a total transaction of $2,843,383.55. Following the transaction, the executive vice president directly owned 48,884 shares in the company, valued at $1,721,205.64. The trade was a 62.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Openlane Trading Up 1.2%

OPLN stock traded up $0.42 during midday trading on Monday, hitting $34.77. The stock had a trading volume of 223,200 shares, compared to its average volume of 1,050,777. The company’s 50-day moving average price is $35.96 and its 200 day moving average price is $34.30. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market cap of $4.22 billion, a PE ratio of -46.97, a price-to-earnings-growth ratio of 1.53 and a beta of 1.35. Openlane has a 12-month low of $24.32 and a 12-month high of $42.90.

Openlane (NYSE:OPLN) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. Openlane had a return on equity of 12.74% and a net margin of 9.23%. The company had revenue of $561.20 million for the quarter. Openlane’s revenue was up 12.6% on a year-over-year basis. On average, equities research analysts predict that Openlane will post 1.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Openlane in a research report on Wednesday, August 26th. Northcoast Research set a $50.00 price target on Openlane in a report on Wednesday, August 5th. Barclays boosted their target price on shares of Openlane from $46.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Wall Street Zen lowered shares of Openlane from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Zacks Research downgraded shares of Openlane from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 7th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Openlane presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.83.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Salomon & Ludwin LLC grew its position in Openlane by 61.3% during the third quarter. Salomon & Ludwin LLC now owns 1,066 shares of the company’s stock valued at $36,000 after acquiring an additional 405 shares during the period. Versant Capital Management Inc increased its stake in Openlane by 94.2% during the second quarter. Versant Capital Management Inc now owns 979 shares of the company’s stock worth $40,000 after acquiring an additional 475 shares during the last quarter. Nykredit A S purchased a new position in shares of Openlane in the 2nd quarter worth about $46,000. Allworth Financial LP purchased a new position in shares of Openlane in the 2nd quarter worth about $56,000. Finally, Rockefeller Capital Management L.P. purchased a new position in shares of Openlane in the 4th quarter worth about $72,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

Openlane Company Profile

OPENLANE operates a digital marketplace for wholesale used vehicles, connecting vehicle sellers—including dealers, fleet operators, financial institutions and manufacturers—with professional buyers. Its online auction platform supports the buying and selling of vehicles across multiple channels.

The company also provides services that support wholesale transactions, such as vehicle condition information, title processing and transportation coordination. OPENLANE serves customers in the United States, Canada and Europe.

The business was previously known as KAR Global and adopted the OPENLANE name in 2023.