2,659,036 Shares in Openlane $OPLN Purchased by Geode Capital Management LLC

Geode Capital Management LLC bought a new position in shares of Openlane (NYSE:OPLN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,659,036 shares of the company’s stock, valued at approximately $79,199,000.

A number of other hedge funds have also recently bought and sold shares of OPLN. Vanguard Group Inc. acquired a new position in Openlane during the fourth quarter worth about $348,271,000. Kimelman & Baird LLC acquired a new position in Openlane during the fourth quarter worth about $24,117,000. Paradice Investment Management LLC acquired a new position in Openlane during the fourth quarter worth about $23,837,000. William Blair Investment Management LLC acquired a new position in Openlane during the fourth quarter worth about $15,206,000. Finally, Gamco Investors INC. ET AL acquired a new position in shares of Openlane in the 4th quarter valued at $13,461,000. 99.76% of the stock is owned by institutional investors and hedge funds.

Openlane Trading Up 0.3%

NYSE OPLN opened at $36.59 on Monday. Openlane has a 1-year low of $22.09 and a 1-year high of $38.82. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market capitalization of $3.88 billion, a P/E ratio of -35.87, a PEG ratio of 1.87 and a beta of 1.27. The stock has a fifty day moving average of $33.16.

Openlane (NYSE:OPLN) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. Openlane had a net margin of 9.47% and a return on equity of 13.00%. The business had revenue of $527.90 million for the quarter. During the same period last year, the company posted $0.31 earnings per share. The company’s revenue was up 14.8% compared to the same quarter last year. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. As a group, analysts predict that Openlane will post 1.31 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Wall Street Zen upgraded Openlane from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Robert W. Baird set a $40.00 price target on Openlane in a research report on Wednesday, May 6th. Barclays increased their price target on Openlane from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Northcoast Research set a $40.00 target price on shares of Openlane in a research note on Wednesday, May 6th. Finally, Zacks Research raised shares of Openlane from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $39.00.

Insider Buying and Selling at Openlane

In other Openlane news, insider William Clyde Mitchell sold 6,500 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $36.04, for a total transaction of $234,260.00. Following the transaction, the insider directly owned 15,914 shares of the company’s stock, valued at $573,540.56. This represents a 29.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Charles S. Coleman sold 19,763 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $35.86, for a total transaction of $708,701.18. Following the transaction, the executive vice president directly owned 74,334 shares in the company, valued at $2,665,617.24. The trade was a 21.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 111,972 shares of company stock valued at $4,018,932. Corporate insiders own 2.22% of the company’s stock.

Openlane Profile

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.