Pictet Asset Management Holding SA Invests $433,000 in Openlane $OPLN

Pictet Asset Management Holding SA purchased a new position in Openlane (NYSE:OPLN) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 14,543 shares of the company’s stock, valued at approximately $433,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Paradice Investment Management LLC bought a new stake in shares of Openlane in the 4th quarter worth approximately $23,837,000. Vanguard Group Inc. acquired a new stake in shares of Openlane during the fourth quarter valued at approximately $348,271,000. State of Alaska Department of Revenue purchased a new position in Openlane during the fourth quarter valued at approximately $2,211,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Openlane during the fourth quarter valued at approximately $649,000. Finally, Guidance Capital Inc. purchased a new position in Openlane during the fourth quarter valued at approximately $770,000. 99.76% of the stock is currently owned by institutional investors.

Openlane Trading Up 0.6%

OPLN opened at $37.91 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.42. The firm has a market cap of $4.02 billion, a PE ratio of -37.16 and a beta of 1.22. Openlane has a 1-year low of $21.62 and a 1-year high of $38.49. The company has a 50-day moving average of $29.59.

Openlane (NYSE:OPLN) last issued its earnings results on Tuesday, May 5th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.03. The company had revenue of $527.90 million for the quarter. Openlane had a net margin of 9.47% and a return on equity of 13.00%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period last year, the business posted $0.31 EPS. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. On average, research analysts predict that Openlane will post 1.34 EPS for the current year.

Insider Buying and Selling

In related news, EVP James P. Coyle sold 88,444 shares of Openlane stock in a transaction that occurred on Friday, February 20th. The shares were 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 trade represents a 58.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Charles S. Coleman sold 19,763 shares of Openlane stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $35.86, for a total transaction of $708,701.18. Following the completion of the transaction, the executive vice president directly owned 74,334 shares in the company, valued at approximately $2,665,617.24. The trade was a 21.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 189,916 shares of company stock valued at $6,181,273 in the last 90 days. 2.22% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on OPLN. Northcoast Research set a $40.00 target price on shares of Openlane in a research report on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of Openlane from $31.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday. Barclays upped their target price on shares of Openlane from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday. Stephens upped their target price on shares of Openlane from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. Finally, Robert W. Baird set a $40.00 price objective on shares of Openlane in a report on Wednesday. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.00.

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.