ProShare Advisors LLC Invests $610,000 in Openlane $OPLN

ProShare Advisors LLC purchased a new position in Openlane (NYSE:OPLN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,488 shares of the company’s stock, valued at approximately $610,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of OPLN. Vanguard Group Inc. purchased a new position in shares of Openlane in the fourth quarter worth about $348,271,000. Kimelman & Baird LLC purchased a new position in Openlane during the fourth quarter worth about $24,117,000. Paradice Investment Management LLC purchased a new position in Openlane during the fourth quarter worth about $23,837,000. Gamco Investors INC. ET AL purchased a new position in Openlane during the fourth quarter worth about $13,461,000. Finally, M&T Bank Corp purchased a new position in Openlane during the fourth quarter worth about $11,642,000. 99.76% of the stock is owned by hedge funds and other institutional investors.

Openlane Stock Performance

Shares of OPLN stock opened at $36.95 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $3.91 billion, a PE ratio of -36.23, a P/E/G ratio of 1.85 and a beta of 1.22. The company has a 50 day simple moving average of $31.72. Openlane has a fifty-two week low of $22.09 and a fifty-two week high of $38.52.

Openlane (NYSE:OPLN) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The firm had revenue of $527.90 million during the quarter. Openlane had a net margin of 9.47% and a return on equity of 13.00%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 EPS. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. On average, research analysts forecast that Openlane will post 1.3 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wall Street Zen raised shares of Openlane from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Robert W. Baird set a $40.00 target price on shares of Openlane in a research note on Wednesday, May 6th. Zacks Research raised shares of Openlane from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. JPMorgan Chase & Co. raised shares of Openlane from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $33.00 to $38.00 in a research note on Wednesday. Finally, Barclays lifted their target price on shares of Openlane from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

Insider Buying and Selling at Openlane

In related news, insider William Clyde Mitchell sold 6,500 shares of Openlane stock in a transaction that occurred 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 completion of the transaction, the insider owned 15,914 shares in the company, valued at approximately $573,540.56. The trade was a 29.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Charles S. Coleman sold 19,763 shares of Openlane stock in a transaction that occurred 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 of the company’s stock, valued at $2,665,617.24. This trade represents a 21.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 111,972 shares of company stock worth $4,018,932. 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.