Sierra Summit Advisors LLC Makes New $909,000 Investment in Openlane $OPLN

Sierra Summit Advisors LLC acquired a new position in Openlane (NYSE:OPLN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 30,526 shares of the company’s stock, valued at approximately $909,000.

Several other institutional investors have also added to or reduced their stakes in OPLN. Salomon & Ludwin LLC bought a new position in shares of Openlane in the 4th quarter worth about $26,000. First Horizon Corp bought a new position in shares of Openlane in the 4th quarter worth about $27,000. Allworth Financial LP bought a new position in shares of Openlane in the 4th quarter worth about $38,000. Fifth Third Bancorp bought a new position in shares of Openlane in the 4th quarter worth about $40,000. Finally, North Star Investment Management Corp. bought a new position in shares of Openlane in the 4th quarter worth about $47,000. 99.76% of the stock is currently owned by institutional investors.

Openlane Stock Performance

Shares of OPLN stock opened at $35.24 on Thursday. Openlane has a one year low of $21.84 and a one year high of $38.52. The company’s 50-day moving average price is $30.93. The stock has a market cap of $3.73 billion, a P/E ratio of -34.54, a price-to-earnings-growth ratio of 1.78 and a beta of 1.22. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.42.

Openlane (NYSE:OPLN) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03. Openlane had a net margin of 9.47% and a return on equity of 13.00%. The company had revenue of $527.90 million for the quarter. During the same period last year, the company posted $0.31 earnings per share. The business’s revenue for the quarter 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, research analysts predict that Openlane will post 1.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on OPLN shares. Robert W. Baird set a $40.00 price target on shares of Openlane in a research note on Wednesday, May 6th. Barclays increased their price target on shares of Openlane from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. increased their price target on shares of Openlane from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Stephens increased their price target on shares of Openlane from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. Finally, Northcoast Research set a $40.00 price target on shares of Openlane in a research note on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.00.

Insider Activity

In other news, EVP Charles S. Coleman sold 19,763 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $35.86, for a total transaction of $708,701.18. Following the sale, the executive vice president owned 74,334 shares of the company’s stock, valued at $2,665,617.24. This trade represents a 21.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider William Clyde Mitchell sold 6,500 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $36.04, for a total transaction of $234,260.00. Following the sale, the insider directly owned 15,914 shares in the company, valued at approximately $573,540.56. The trade was a 29.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 200,416 shares of company stock valued at $6,568,773. Company insiders own 2.22% of the company’s stock.

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.