State of Wyoming Purchases New Position in Openlane $OPLN

State of Wyoming purchased a new stake in shares of Openlane (NYSE:OPLN) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 32,856 shares of the company’s stock, valued at approximately $978,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OPLN. Salomon & Ludwin LLC bought a new stake in shares of Openlane in the 4th quarter worth about $26,000. First Horizon Corp bought a new stake in shares of Openlane in the 4th quarter worth about $27,000. Allworth Financial LP bought a new stake in shares of Openlane in the 4th quarter worth about $38,000. Nomura Asset Management Co. Ltd. bought a new stake in shares of Openlane in the 4th quarter worth about $39,000. Finally, Fifth Third Bancorp bought a new stake in shares of Openlane in the 4th quarter worth about $40,000. 99.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Tobin P. Richer sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $38.31, for a total transaction of $153,240.00. Following the completion of the sale, the executive vice president directly owned 24,697 shares of the company’s stock, valued at approximately $946,142.07. This trade represents a 13.94% decrease in their position. The sale was disclosed in a legal filing 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 that occurred on Thursday, May 14th. The stock was sold at an average price of $36.04, for a total value of $234,260.00. Following the sale, the insider directly owned 15,914 shares of the company’s stock, valued at $573,540.56. This 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 quarter. 2.22% of the stock is currently owned by insiders.

Openlane Price Performance

NYSE:OPLN opened at $36.81 on Thursday. The company has a market cap of $3.90 billion, a price-to-earnings ratio of -36.08, a price-to-earnings-growth ratio of 1.96 and a beta of 1.27. Openlane has a 1 year low of $22.09 and a 1 year high of $38.82. The company has a 50 day moving average of $32.78. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.16 and a quick ratio of 1.16.

Openlane (NYSE:OPLN) last posted its quarterly earnings data 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 business had revenue of $527.90 million during the quarter. Openlane had a return on equity of 13.00% and a net margin of 9.47%.Openlane’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.31 earnings per share. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. As a group, analysts expect that Openlane will post 1.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on OPLN. Robert W. Baird set a $40.00 target price on shares of Openlane in a report on Wednesday, May 6th. Barclays raised their price objective on Openlane from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Northcoast Research set a $40.00 price objective on Openlane in a research note on Wednesday, May 6th. JPMorgan Chase & Co. raised Openlane from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $33.00 to $38.00 in a research note on Wednesday, May 27th. Finally, Zacks Research raised Openlane from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $39.00.

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.