Openlane (NYSE:OPLN) EVP Tobin Richer Sells 4,000 Shares

Openlane (NYSE:OPLN) EVP Tobin Richer sold 4,000 shares of Openlane stock in a transaction on Friday, May 8th. The shares were sold at an average price of $38.31, for a total value of $153,240.00. Following the transaction, the executive vice president owned 24,697 shares in the company, valued at $946,142.07. This trade represents a 13.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Openlane Stock Down 2.3%

NYSE OPLN opened at $37.03 on Tuesday. Openlane has a 52 week low of $21.84 and a 52 week high of $38.52. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market capitalization of $3.92 billion, a P/E ratio of -36.30 and a beta of 1.22. The stock has a 50-day moving average of $29.98.

Openlane (NYSE:OPLN) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Openlane had a return on equity of 13.00% and a net margin of 9.47%.The company had revenue of $527.90 million during the quarter. During the same quarter last year, the firm posted $0.31 earnings per share. The company’s revenue was up 14.8% compared to the same quarter last year. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. Research analysts anticipate that Openlane will post 1.34 EPS for the current year.

Institutional Trading of Openlane

Hedge funds have recently made changes to their positions in the business. Salomon & Ludwin LLC purchased a new stake in Openlane during the fourth quarter valued at approximately $26,000. First Horizon Corp bought a new stake in shares of Openlane in the 4th quarter valued at approximately $27,000. Allworth Financial LP purchased a new position in shares of Openlane in the 4th quarter worth approximately $38,000. Nomura Asset Management Co. Ltd. bought a new position in shares of Openlane during the 4th quarter valued at approximately $39,000. Finally, Fifth Third Bancorp bought a new position in shares of Openlane during the 4th quarter valued at approximately $40,000. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on OPLN. Weiss Ratings downgraded shares of Openlane from a “buy (b)” rating to a “hold (c)” rating in a research report on Tuesday, March 3rd. Wall Street Zen raised shares of Openlane from a “hold” rating to a “buy” rating in a report on Saturday. Zacks Research upgraded Openlane from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Robert W. Baird set a $40.00 price target on Openlane in a report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. boosted their price objective on Openlane from $31.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Openlane presently has an average 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.