Renaissance Technologies LLC Sells 174,600 Shares of Openlane $OPLN

Key Points

• Renaissance Technologies cut its Openlane stake by 64.3% in the first quarter, selling 174,600 shares and retaining 97,000 shares valued at approximately $2.83 million.
• Openlane’s institutional ownership remains very high at 99.76%, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $43.83.
• The company exceeded quarterly earnings expectations, reporting $0.40 EPS versus the $0.35 consensus and $554.6 million in revenue, up 15.1% year over year; fiscal 2026 EPS guidance is $1.40–$1.50.

Renaissance Technologies LLC cut its holdings in Openlane (NYSE:OPLN - Free Report) by 64.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 97,000 shares of the company's stock after selling 174,600 shares during the period. Renaissance Technologies LLC owned approximately 0.09% of Openlane worth $2,828,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. acquired a new stake in Openlane during the fourth quarter worth approximately $348,271,000. Bank of Montreal Can acquired a new position in Openlane in the fourth quarter valued at approximately $220,158,000. Dimensional Fund Advisors LP bought a new position in shares of Openlane during the 4th quarter worth approximately $200,309,000. State Street Corp acquired a new stake in shares of Openlane during the 4th quarter worth approximately $127,581,000. Finally, Neuberger Berman Group LLC acquired a new stake in shares of Openlane during the 4th quarter worth approximately $103,876,000. 99.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OPLN has been the topic of a number of research reports. Northcoast Research set a $50.00 target price on shares of Openlane in a research report on Wednesday. Barclays increased their price objective on shares of Openlane from $46.00 to $49.00 and gave the stock an "overweight" rating in a research report on Thursday. JPMorgan Chase & Co. upgraded Openlane from a "neutral" rating to an "overweight" rating and raised their target price for the company from $33.00 to $38.00 in a research note on Wednesday, May 27th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Openlane in a research report on Friday, May 29th. Finally, Zacks Research raised Openlane from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Openlane currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.83.

Openlane Stock Performance

Shares of OPLN stock opened at $36.95 on Monday. The firm has a 50-day moving average of $39.21 and a 200-day moving average of $33.63. The company has a market cap of $4.54 billion, a P/E ratio of -43.47, a P/E/G ratio of 2.24 and a beta of 1.28. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.17 and a quick ratio of 1.17. Openlane has a one year low of $24.32 and a one year high of $42.90.

Openlane (NYSE:OPLN - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter. Openlane's quarterly revenue was up 15.1% compared to the same quarter last year. Openlane has set its FY 2026 guidance at 1.400-1.500 EPS. Equities research analysts forecast that Openlane will post 1.47 EPS for the current fiscal year.

Insider Buying and Selling

In other Openlane news, insider William Clyde Mitchell sold 6,500 shares of the company's stock in a transaction 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 completion of the transaction, the insider owned 15,914 shares in the company, valued at $573,540.56. This represents a 29.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.22% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source