Openlane (NYSE:OPLN) Stock: Insider Charles Coleman Sells 402 Shares

Openlane (NYSE:OPLN) EVP Charles Coleman sold 402 shares of the stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $36.06, for a total transaction of $14,496.12. Following the sale, the executive vice president owned 74,334 shares in the company, valued at $2,680,484.04. The trade was a 0.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Openlane Stock Performance

Shares of NYSE:OPLN opened at $35.21 on Wednesday. Openlane has a 1 year low of $24.32 and a 1 year high of $42.90. The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of 24.41, a price-to-earnings-growth ratio of 1.56 and a beta of 1.35. 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 company’s 50 day simple moving average is $35.95 and its 200 day simple moving average is $34.34.

Openlane (NYSE:OPLN) last released its earnings results on Wednesday, November 4th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.04. Openlane had a return on equity of 12.74% and a net margin of 9.23%. The firm had revenue of $561.20 million during the quarter. The business’s revenue was up 12.6% compared to the same quarter last year. As a group, research analysts predict that Openlane will post 1.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Openlane

A number of hedge funds have recently modified their holdings of OPLN. Versant Capital Management Inc increased its stake in shares of Openlane by 94.2% in the second quarter. Versant Capital Management Inc now owns 979 shares of the company’s stock valued at $40,000 after buying an additional 475 shares during the period. Salomon & Ludwin LLC lifted its stake in shares of Openlane by 61.3% in the third quarter. Salomon & Ludwin LLC now owns 1,066 shares of the company’s stock worth $36,000 after acquiring an additional 405 shares during the period. Nykredit A S acquired a new position in shares of Openlane in the second quarter worth approximately $46,000. Allworth Financial LP acquired a new position in shares of Openlane in the second quarter worth approximately $56,000. Finally, Persistent Asset Partners Ltd bought a new stake in Openlane in the second quarter valued at approximately $75,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Barclays increased their target price on shares of Openlane from $46.00 to $49.00 and gave the stock 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 report on Saturday, August 8th. 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 objective on shares of Openlane in a research report on Wednesday, August 5th. 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 investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $43.83.

Openlane News Summary

Here are the key news stories impacting Openlane this week:

• Positive Sentiment: A recent investor article points to raised earnings guidance as a reason to reassess OPENLANE’s outlook. The company also recently reported quarterly EPS of $0.43, above the $0.39 consensus, and revenue growth of 12.6% year over year—supportive signals for the business. Raised Earnings Guidance Might Change The Case For Investing In OPENLANE (OPLN)
• Neutral Sentiment: EVP James Coyle sold 80,755 shares for about $2.84 million, reducing his direct stake by 62.29%. The filing says the sale covered tax withholding obligations on vested equity awards, making it less clearly a bearish signal about the company’s prospects. Openlane EVP James Coyle Sells Shares
• Negative Sentiment: EVP Charles Coleman sold 38,094 shares for about $1.36 million, reducing his position by roughly 34%; the report did not give a reason. A separate filing reported a sale of 402 shares for about $14,500. Insider selling may weigh on sentiment, though Coleman retained 74,334 shares after the larger sale. Openlane Insider Sold Shares According to SEC Filing

About Openlane

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.