Opendoor (OPEN) Stock Gains as NY Trading Firm Jane Street Takes 5.9% Stake

TLDR

Table of Contents

Jane Street Group disclosed a 5.9% stake in Opendoor Technologies (OPEN) through a 13G filing, holding 44,031,310.18 shares
OPEN stock jumped 16.24% during regular trading and another 9.35% in after-hours trading on Wednesday
New home sales data showed strong momentum with August hitting 800,000 units annually, up 20.5% from July
OPEN shares have surged 414% year-to-date as the stock gains meme stock status following Eric Jackson’s promotion
Wall Street analysts maintain a Moderate Sell rating with an average price target of $1.44, implying 82.5% downside

Opendoor Technologies saw its stock price rocket on Wednesday after quantitative trading giant Jane Street disclosed a major stake in the real estate technology company. The news comes as fresh housing data painted a rosy picture for the sector.

Jane Street Group filed a 13G form with the SEC revealing it holds 44,031,310.18 shares of OPEN. This represents a 5.9% stake in the company’s total outstanding common stock.

The disclosure sent OPEN shares climbing 16.24% during regular trading hours. After-hours trading saw an additional 9.35% gain, pushing the stock to around $9.

We got the smartest quants on Wall Street with the smartest minds of retail in OPEN pic.twitter.com/jIYi2OTeCn
— Eric Jackson (@ericjackson) September 24, 2025

Jane Street’s investment represents another high-profile backer for what has become one of 2025’s most volatile meme stocks. The New York-based trading firm employs over 2,600 people across offices in Manhattan, London, Hong Kong, Chicago, and Singapore.

The quantitative trading powerhouse handles more than $10 trillion worth of securities annually. Their move into OPEN follows similar investments in CoreWeave and Tesla that preceded stock price jumps.

Housing Market Momentum Builds

Fresh government data released Wednesday showed new single-family home sales hit a seasonally adjusted annual pace of 800,000 units in August. This marked a 20.5% jump from July levels and a 15.4% increase year-over-year.

The median price for new houses sold in August reached $413,500. This topped both the previous month’s figure and 2024 levels.

Strong housing demand creates a favorable environment for companies like Opendoor that focus on residential real estate transactions. Higher sales volumes and rising prices could translate to improved revenues and margins.

The housing data comes at a time when OPEN has transformed into a retail investor favorite. Shares have skyrocketed 414% year-to-date following hedge fund manager Eric Jackson’s public backing of the stock.

Jackson’s social media promotion of OPEN helped spark the meme stock frenzy around the shares. His disclosure of a stake in the company marked the beginning of the stock’s meteoric rise.

Analyst Skepticism Remains

Despite the stock’s explosive performance, Wall Street analysts remain cautious about OPEN’s prospects. Nine analysts covering the stock maintain a consensus Moderate Sell rating.

The current analyst breakdown includes one Buy recommendation, three Hold ratings, and five Sell recommendations. All of these ratings were issued within the past three months.

The average price target among analysts sits at just $1.44 per share. This implies a potential 82.5% downside from current trading levels around $9.

Jane Street’s 13G filing indicates a passive investment approach rather than an activist position. Schedule 13G filings are typically used by institutional investors who don’t intend to influence or change company control.

The quantitative trading firm’s backing provides institutional credibility to what has largely been a retail-driven rally. Jane Street’s reputation as a sophisticated market maker adds weight to the investment thesis.

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