Insider Selling: Greenlane Holdings, Inc. (NASDAQ:GNLN) Insider Sells 38,200 Shares of Stock

Greenlane Holdings, Inc. (NASDAQ:GNLN) insider Adam Schoenfeld sold 38,200 shares of the stock in a transaction dated Friday, November 19th. The stock was sold at an average price of $1.44, for a total transaction of $55,008.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Adam Schoenfeld also recently made the following trade(s):

  • On Friday, November 12th, Adam Schoenfeld sold 38,200 shares of Greenlane stock. The shares were sold at an average price of $1.90, for a total value of $72,580.00.
  • On Friday, November 5th, Adam Schoenfeld sold 38,200 shares of Greenlane stock. The shares were sold at an average price of $1.72, for a total value of $65,704.00.
  • On Friday, October 29th, Adam Schoenfeld sold 38,200 shares of Greenlane stock. The shares were sold at an average price of $1.71, for a total transaction of $65,322.00.
  • On Friday, October 22nd, Adam Schoenfeld sold 38,200 shares of Greenlane stock. The shares were sold at an average price of $1.94, for a total transaction of $74,108.00.
  • On Friday, October 15th, Adam Schoenfeld sold 38,200 shares of Greenlane stock. The shares were sold at an average price of $2.34, for a total transaction of $89,388.00.

Shares of NASDAQ:GNLN opened at $1.32 on Thursday. The company has a current ratio of 2.44, a quick ratio of 1.19 and a debt-to-equity ratio of 0.04. The stock’s fifty day simple moving average is $2.09 and its two-hundred day simple moving average is $2.97. Greenlane Holdings, Inc. has a 1-year low of $1.25 and a 1-year high of $8.73. The stock has a market cap of $123.99 million, a PE ratio of -1.19 and a beta of 2.18.

Greenlane (NASDAQ:GNLN) last issued its quarterly earnings data on Monday, November 15th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.16). Greenlane had a negative net margin of 18.52% and a negative return on equity of 26.06%. During the same period in the prior year, the firm earned ($0.46) EPS. On average, sell-side analysts forecast that Greenlane Holdings, Inc. will post -0.54 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Northern Trust Corp increased its position in shares of Greenlane by 3.4% during the 1st quarter. Northern Trust Corp now owns 141,188 shares of the company’s stock valued at $749,000 after purchasing an additional 4,633 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Greenlane by 137.8% during the 2nd quarter. Wells Fargo & Company MN now owns 8,081 shares of the company’s stock valued at $36,000 after purchasing an additional 4,683 shares during the last quarter. Barclays PLC increased its position in shares of Greenlane by 159.1% during the 1st quarter. Barclays PLC now owns 8,591 shares of the company’s stock valued at $46,000 after purchasing an additional 5,275 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Greenlane by 18.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 34,625 shares of the company’s stock valued at $155,000 after purchasing an additional 5,417 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in shares of Greenlane by 42.9% during the 2nd quarter. California State Teachers Retirement System now owns 22,241 shares of the company’s stock valued at $99,000 after purchasing an additional 6,678 shares during the last quarter. 7.74% of the stock is owned by hedge funds and other institutional investors.

GNLN has been the subject of several recent analyst reports. Cowen initiated coverage on shares of Greenlane in a research report on Friday, September 10th. They set an “outperform” rating and a $5.00 price objective for the company. Jefferies Financial Group initiated coverage on shares of Greenlane in a research report on Friday, October 1st. They set a “buy” rating and a $6.30 price objective for the company. Roth Capital raised their price objective on shares of Greenlane from $5.50 to $6.00 and gave the stock a “buy” rating in a research report on Friday, September 3rd. Alliance Global Partners initiated coverage on shares of Greenlane in a research report on Tuesday, September 7th. They set a “buy” rating and a $6.00 price objective for the company. Finally, Zacks Investment Research downgraded shares of Greenlane from a “hold” rating to a “sell” rating in a research report on Friday, November 19th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Greenlane has a consensus rating of “Buy” and an average price target of $5.30.

Greenlane Company Profile

Greenlane Holdings, Inc distributes and supplies vaporization products and accessories for vape shops and dispensaries. The firm offers packaging, rolling papers, grinders, glass products, and smoking accessories. The company was founded by Aaron LoCascio and Adam Schoenfeld in 2005 and is headquartered in Boca Raton, FL.

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Insider Buying and Selling by Quarter for Greenlane (NASDAQ:GNLN)

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