Geode Capital Management LLC Takes Position in Openlane $OPLN

Geode Capital Management LLC bought a new stake in shares of Openlane (NYSE:OPLN) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 2,659,036 shares of the company’s stock, valued at approximately $79,199,000. Geode Capital Management LLC owned about 2.50% of Openlane at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC bought a new position in Openlane during the fourth quarter worth $26,000. First Horizon Corp bought a new position in Openlane during the fourth quarter worth $27,000. Allworth Financial LP bought a new position in Openlane during the fourth quarter worth $38,000. Fifth Third Bancorp bought a new position in Openlane during the fourth quarter worth $40,000. Finally, EverSource Wealth Advisors LLC bought a new position in Openlane during the fourth quarter worth $42,000. 99.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

OPLN has been the topic of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Openlane in a research note on Friday, May 29th. Zacks Research upgraded Openlane from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Northcoast Research set a $40.00 price objective on Openlane in a research note on Wednesday, May 6th. Barclays raised their price objective on Openlane from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. upgraded Openlane from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $33.00 to $38.00 in a research note on Wednesday, May 27th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

Openlane Price Performance

Shares of 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 stock has a fifty day moving average of $33.16. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of -35.87, a PEG ratio of 1.87 and a beta of 1.27.

Openlane (NYSE:OPLN) last issued its earnings results on Tuesday, May 5th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.03. Openlane had a return on equity of 13.00% and a net margin of 9.47%.The firm had revenue of $527.90 million for the quarter. During the same period in the prior year, the business earned $0.31 earnings per share. Openlane’s quarterly revenue was up 14.8% on a year-over-year basis. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. Equities research analysts expect that Openlane will post 1.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Charles S. Coleman sold 19,763 shares of the firm’s 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 of the company’s stock, valued at approximately $2,665,617.24. This trade represents a 21.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William Clyde Mitchell sold 6,500 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $36.04, for a total value of $234,260.00. Following the transaction, the insider directly owned 15,914 shares in the company, valued at $573,540.56. This trade represents a 29.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 111,972 shares of company stock valued at $4,018,932 over the last three months. 2.22% of the stock is currently owned by company 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.