Openlane (NYSE:OPLN) EVP Sells $2,386,180.93 in Stock

Key Points

• Openlane EVP Tobin Richer sold 66,709 shares on May 6 at an average price of $35.77, totaling about $2.39 million. After the sale, he retained 28,697 shares, a decrease of nearly 70% in his position.
• Openlane beat quarterly expectations by reporting EPS of $0.35 versus the $0.32 consensus, while revenue rose 14.8% year over year to $527.9 million. The company also issued FY 2026 guidance of 1.280-1.420 EPS.
• Analysts remain mixed but constructive on the stock, with three Buy ratings and three Hold ratings and a consensus price target of $38.00. Shares recently traded up 0.9% to $38.01, near the stock’s 52-week high.

Openlane (NYSE:OPLN - Get Free Report) EVP Tobin Richer sold 66,709 shares of Openlane stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $35.77, for a total value of $2,386,180.93. Following the completion of the transaction, the executive vice president owned 28,697 shares in the company, valued at approximately $1,026,491.69. This represents a 69.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Openlane Stock Up 0.9%

Shares of OPLN traded up $0.34 during trading hours on Friday, hitting $38.01. The company had a trading volume of 1,148,025 shares, compared to its average volume of 909,169. The firm has a market cap of $4.03 billion, a price-to-earnings ratio of -37.26 and a beta of 1.22. The company's 50 day moving average is $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 52-week low of $21.62 and a 52-week high of $38.49.

Openlane (NYSE:OPLN - Get Free Report) last announced its quarterly earnings results 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 for the quarter. During the same quarter in the prior year, the firm earned $0.31 EPS. The firm's revenue for the quarter was up 14.8% on a year-over-year basis. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. On average, research analysts expect that Openlane will post 1.34 EPS for the current fiscal year.

Institutional Trading of Openlane

A number of hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its position in shares of Openlane by 6.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,549 shares of the company's stock worth $162,000 after purchasing an additional 353 shares in the last quarter. Salomon & Ludwin LLC bought a new stake in shares of Openlane in the 4th quarter worth approximately $26,000. First Horizon Corp bought a new stake in shares of Openlane in the 4th quarter worth approximately $27,000. Allworth Financial LP bought a new stake in shares of Openlane in the 4th quarter worth approximately $38,000. Finally, Nomura Asset Management Co. Ltd. bought a new stake in shares of Openlane in the 4th quarter worth approximately $39,000. 99.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

OPLN has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on Openlane from $31.00 to $33.00 and gave the stock a "neutral" rating in a report on Thursday. Barclays upped their target price on Openlane from $35.00 to $40.00 and gave the stock an "overweight" rating in a report on Wednesday. Stephens upped their target price on Openlane from $35.00 to $37.00 and gave the stock an "overweight" rating in a report on Friday, January 23rd. Northcoast Research set a $40.00 target price on Openlane in a report on Wednesday. Finally, Weiss Ratings downgraded Openlane from a "buy (b)" rating to a "hold (c)" rating in a report on Tuesday, March 3rd. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company 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.

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