ProShare Advisors LLC Makes New Investment in Openlane $OPLN

ProShare Advisors LLC purchased a new position in shares of Openlane (NYSE:OPLN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 20,488 shares of the company’s stock, valued at approximately $610,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC acquired a new position in Openlane during the 4th quarter worth approximately $26,000. First Horizon Corp acquired a new position in Openlane during the 4th quarter worth approximately $27,000. Allworth Financial LP acquired a new position in Openlane during the 4th quarter worth approximately $38,000. Fifth Third Bancorp acquired a new position in Openlane during the 4th quarter worth approximately $40,000. Finally, North Star Investment Management Corp. acquired a new position in Openlane during the 4th quarter worth approximately $47,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on OPLN. Northcoast Research set a $40.00 price target on shares of Openlane in a report on Wednesday, May 6th. JPMorgan Chase & Co. upgraded shares of Openlane from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $33.00 to $38.00 in a report on Wednesday. Robert W. Baird set a $40.00 price target on shares of Openlane in a report on Wednesday, May 6th. Barclays boosted their price target on shares of Openlane from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Wall Street Zen upgraded shares of Openlane from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $39.00.

Openlane Price Performance

OPLN stock opened at $36.95 on Thursday. The firm has a fifty day simple moving average of $31.72. Openlane has a 12 month low of $22.09 and a 12 month high of $38.52. The stock has a market cap of $3.91 billion, a P/E ratio of -36.23, a price-to-earnings-growth ratio of 1.85 and a beta of 1.22. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.16 and a current ratio of 1.16.

Openlane (NYSE:OPLN) last released its quarterly earnings results 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 firm had revenue of $527.90 million during the quarter. During the same quarter last year, the company earned $0.31 EPS. The firm’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, analysts anticipate that Openlane will post 1.3 earnings per share for the current year.

Insider Activity

In other Openlane news, EVP Charles S. Coleman sold 19,763 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $35.86, for a total transaction of $708,701.18. Following the completion of the transaction, the executive vice president owned 74,334 shares in the company, valued at approximately $2,665,617.24. This represents a 21.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Tobin P. Richer sold 66,709 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $35.77, for a total transaction of $2,386,180.93. Following the transaction, the executive vice president owned 28,697 shares of the company’s stock, valued at approximately $1,026,491.69. The trade was a 69.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 111,972 shares of company stock worth $4,018,932 in the last 90 days. Corporate insiders own 2.22% of the company’s stock.

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.