Openlane $OPLN Stock Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its stake in Openlane (NYSE:OPLN) by 32.2% in the third quarter, Holdings Channel.com reports. The firm owned 37,329 shares of the company’s stock after selling 17,757 shares during the quarter. State of Alaska Department of Revenue’s holdings in Openlane were worth $1,272,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc lifted its holdings in shares of Openlane by 94.2% in the second quarter. Versant Capital Management Inc now owns 979 shares of the company’s stock valued at $40,000 after purchasing an additional 475 shares in the last quarter. Nykredit A S bought a new position in shares of Openlane during the second quarter worth about $46,000. Allworth Financial LP bought a new position in shares of Openlane during the second quarter worth about $56,000. Persistent Asset Partners Ltd acquired a new stake in Openlane in the 2nd quarter valued at approximately $75,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Openlane in the 2nd quarter valued at approximately $75,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

Analysts Set New Price Targets

OPLN has been the subject of several research reports. Northcoast Research set a $50.00 price target on shares of Openlane in a research note on Wednesday, August 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Openlane in a research report on Wednesday, August 26th. Zacks Research lowered shares of Openlane from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 7th. Barclays lifted their price target on shares of Openlane from $46.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Finally, Wall Street Zen lowered shares of Openlane from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.83.

Insider Transactions at Openlane

In other news, CEO Peter Kelly purchased 14,830 shares of the company’s stock in a transaction on Monday, August 24th. The shares were purchased at an average cost of $33.72 per share, with a total value of $500,067.60. Following the completion of the transaction, the chief executive officer owned 14,830 shares of the company’s stock, valued at $500,067.60. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.22% of the company’s stock.

Openlane Stock Up 1.9%

OPLN stock opened at $37.69 on Wednesday. The company has a market cap of $4.63 billion, a price-to-earnings ratio of 27.40, a P/E/G ratio of 1.73 and a beta of 1.28. Openlane has a twelve month low of $24.32 and a twelve month high of $42.90. The business has a 50 day moving average price of $35.19 and a two-hundred day moving average price of $36.10. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.34.

Openlane (NYSE:OPLN) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.35 by $0.05. Openlane had a return on equity of 12.81% and a net margin of 9.67%. The company had revenue of $554.60 million during the quarter. Openlane’s revenue was up 15.1% on a year-over-year basis. Openlane has set its FY 2026 guidance at 1.400-1.500 EPS. Analysts anticipate that Openlane will post 1.45 EPS for the current fiscal year.

Openlane Company Profile

OPENLANE, Inc (NYSE: OPLN) operates a digital marketplace and technology platform for the wholesale vehicle industry. The company helps automotive dealers, manufacturers, fleet operators, rental companies and financial institutions buy and sell used vehicles through online and physical auction channels.

Its services include wholesale vehicle auctions, vehicle inspection and condition reporting, transportation and logistics, financing support, title and documentation services, and other tools designed to simplify the remarketing process.