Openlane (NYSE:OPLN) CEO Peter Kelly Acquires 14,830 Shares of Stock

Openlane (NYSE:OPLN) CEO Peter Kelly bought 14,830 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was acquired at an average price of $33.72 per share, for a total transaction of $500,067.60. Following the purchase, the chief executive officer directly owned 14,830 shares in the company, valued at approximately $500,067.60. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Openlane Stock Performance

Shares of OPLN traded up $0.31 on Wednesday, reaching $34.62. 1,696,514 shares of the company’s stock traded hands, compared to its average volume of 1,025,288. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.34. The stock has a market cap of $4.25 billion, a PE ratio of -40.73, a PEG ratio of 2.09 and a beta of 1.28. The stock’s 50 day simple moving average is $38.58 and its two-hundred day simple moving average is $34.04. Openlane has a 52-week low of $24.32 and a 52-week high of $42.90.

Openlane (NYSE:OPLN) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.05. The business had revenue of $554.60 million for the quarter. Openlane had a return on equity of 12.81% and a net margin of 9.67%.Openlane’s quarterly revenue was up 15.1% compared to the same quarter last year. Openlane has set its FY 2026 guidance at 1.400-1.500 EPS. On average, analysts forecast that Openlane will post 1.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

OPLN has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of Openlane from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Stephens reaffirmed an “overweight” rating and issued a $42.00 price objective on shares of Openlane in a research report on Thursday, June 11th. Northcoast Research set a $50.00 target price on shares of Openlane in a research note on Wednesday, August 5th. Barclays increased their target price on shares of Openlane from $46.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Finally, Zacks Research upgraded shares of Openlane from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.83.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Openlane during the 2nd quarter worth $297,000. California State Teachers Retirement System raised its stake in Openlane by 3,908.8% in the 2nd quarter. California State Teachers Retirement System now owns 5,103,409 shares of the company’s stock valued at $210,465,000 after acquiring an additional 4,976,105 shares during the period. AXQ Capital LP bought a new stake in Openlane in the 2nd quarter valued at about $306,000. Round Rock Advisors LLC purchased a new stake in Openlane during the second quarter valued at about $315,000. Finally, Nykredit A S purchased a new stake in Openlane during the second quarter valued at about $46,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

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.