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Insider Sale: EVP, President NA Marketplaces James Coyle Sells 6,000 Shares of Openlane Inc (KAR)

James Coyle, Executive Vice President and President of North American Marketplaces at Openlane Inc (NYSE:KAR), executed a sale of 6,000 shares of the company on May 15, 2024. The transaction was filed on the same day through an SEC Filing.

Openlane Inc operates as a digital marketplace for wholesale used vehicles and related services. The company provides a platform for car dealers and other automotive professionals to buy and sell vehicles.

The shares were sold at a price of $18.09 each, totaling $108,540. Following this transaction, the insider's direct ownership in the company stands adjusted. Over the past year, the insider has sold a total of 6,000 shares and has not made any purchases.

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The stock of Openlane Inc (NYSE:KAR) currently holds a market cap of approximately $1.95 billion. According to the latest data, the stock is considered Fairly Valued with a price-to-GF Value ratio of 1.05, based on a GF Value of $17.19.

The GF Value is calculated considering historical multiples such as price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.

Insider Sale: EVP, President NA Marketplaces James Coyle Sells 6,000 Shares of Openlane Inc (KAR)
Insider Sale: EVP, President NA Marketplaces James Coyle Sells 6,000 Shares of Openlane Inc (KAR)

The insider transaction history for Openlane Inc shows a trend with 1 insider buy and 2 insider sells over the past year.

Insider Sale: EVP, President NA Marketplaces James Coyle Sells 6,000 Shares of Openlane Inc (KAR)
Insider Sale: EVP, President NA Marketplaces James Coyle Sells 6,000 Shares of Openlane Inc (KAR)

This sale by the insider might be of interest to current and potential investors, providing insights into insider confidence and company valuation as per market standards.

This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.

This article first appeared on GuruFocus.