State of Alaska Department of Revenue Sells 17,757 Shares of Openlane $OPLN

State of Alaska Department of Revenue cut its stake in shares of Openlane (NYSE:OPLN) by 32.2% in the third quarter, according to the company in its most recent disclosure with the SEC. 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 filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Openlane during the 2nd quarter worth approximately $660,070,000. Hawk Ridge Capital Management LP lifted its position in Openlane by 72.5% during the 1st quarter. Hawk Ridge Capital Management LP now owns 4,967,144 shares of the company’s stock valued at $144,792,000 after purchasing an additional 2,087,200 shares during the period. Park West Asset Management LLC bought a new position in shares of Openlane in the 2nd quarter valued at about $46,368,000. Sunriver Management LLC boosted its stake in shares of Openlane by 1.3% in the 1st quarter. Sunriver Management LLC now owns 1,518,196 shares of the company’s stock valued at $44,255,000 after purchasing an additional 19,634 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Openlane by 7.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,251,247 shares of the company’s stock valued at $36,474,000 after purchasing an additional 86,986 shares during the last quarter. Institutional investors and hedge funds own 99.76% of the company’s stock.

Openlane Stock Up 1.9%

Shares of NYSE:OPLN opened at $37.69 on Wednesday. The company 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 debt-to-equity ratio of 0.34, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market capitalization of $4.63 billion, a PE ratio of 27.40, a PEG ratio of 1.73 and a beta of 1.28. Openlane has a 52 week low of $24.32 and a 52 week high of $42.90.

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on OPLN shares. Northcoast Research set a $50.00 price target on shares of Openlane in a research note on Wednesday, August 5th. Bank of America increased their price objective on shares of Openlane from $37.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Zacks Research cut shares of Openlane from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 7th. Wall Street Zen lowered shares of Openlane from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Barclays upped their target price on shares of Openlane from $46.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $43.83.

Insider Activity

In other Openlane news, CEO Peter Kelly purchased 14,830 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were bought at an average price of $33.72 per share, with a total value of $500,067.60. Following the completion of the transaction, the chief executive officer directly owned 14,830 shares in the company, valued at $500,067.60. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.22% of the stock is owned by company insiders.

Openlane 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.