Zurcher Kantonalbank Zurich Cantonalbank Invests $649,000 in Openlane $OPLN

Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Openlane (NYSE:OPLN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 21,781 shares of the company’s stock, valued at approximately $649,000.

Other hedge funds have also recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new stake in Openlane in the 4th quarter valued at approximately $2,211,000. Guidance Capital Inc. purchased a new stake in Openlane in the 4th quarter valued at approximately $770,000. Yousif Capital Management LLC purchased a new stake in Openlane in the 4th quarter valued at approximately $857,000. First Horizon Corp purchased a new stake in Openlane in the 4th quarter valued at approximately $27,000. Finally, CWM LLC purchased a new stake in Openlane in the 4th quarter valued at approximately $320,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Wall Street Analyst Weigh In

OPLN has been the topic of a number of recent research reports. Stephens upped their target price on Openlane from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. JPMorgan Chase & Co. upped their target price on Openlane from $28.00 to $29.00 and gave the company a “neutral” rating in a research note on Thursday, February 19th. Barclays upped their target price on Openlane from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Wednesday, January 21st. Weiss Ratings lowered Openlane from a “buy (b)” rating to a “hold (c)” rating in a research note on Tuesday, March 3rd. Finally, Zacks Research raised Openlane from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Openlane presently has an average rating of “Moderate Buy” and a consensus price target of $33.50.

Openlane Stock Up 0.1%

Shares of Openlane stock opened at $31.47 on Friday. Openlane has a fifty-two week low of $18.75 and a fifty-two week high of $32.36. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of -26.45 and a beta of 1.22. The business’s fifty day simple moving average is $29.03. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.43.

Openlane (NYSE:OPLN) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Openlane had a return on equity of 12.74% and a net margin of 9.19%.The business had revenue of $494.30 million for the quarter. During the same quarter in the previous year, the company posted $0.21 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. Openlane has set its FY 2026 guidance at 1.240-1.380 EPS. Equities research analysts anticipate that Openlane will post 1.34 EPS for the current year.

Insider Buying and Selling at Openlane

In other Openlane news, EVP James P. Coyle sold 88,444 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $28.83, for a total transaction of $2,549,840.52. Following the transaction, the executive vice president owned 63,869 shares of the company’s stock, valued at $1,841,343.27. This represents a 58.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.32% of the stock is currently owned by corporate insiders.

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.