Man Group plc purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,539,117 shares of the business services provider’s stock, valued at approximately $43,388,000.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its position in shares of Copart by 92.1% during the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock valued at $816,000 after acquiring an additional 6,817 shares during the period. Geneos Wealth Management Inc. raised its holdings in Copart by 365.8% during the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock worth $63,000 after purchasing an additional 878 shares during the last quarter. Jump Financial LLC acquired a new position in Copart during the second quarter worth $2,677,000. Sei Investments Co. raised its stake in shares of Copart by 110.0% during the 2nd quarter. Sei Investments Co. now owns 900,330 shares of the business services provider’s stock worth $44,179,000 after buying an additional 471,571 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its position in shares of Copart by 3.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 413,083 shares of the business services provider’s stock worth $20,270,000 after buying an additional 13,860 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.
Insider Buying and Selling at Copart
In other news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total transaction of $845,945.05. Following the sale, the chief executive officer directly owned 99,641 shares of the company’s stock, valued at approximately $3,038,054.09. The trade was a 21.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.60% of the stock is owned by corporate insiders.
Copart Stock Performance
Analyst Ratings Changes
Several research firms have weighed in on CPRT. Barclays set a $25.00 target price on shares of Copart and gave the company an “underweight” rating in a report on Wednesday. Zacks Research cut shares of Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Copart in a research note on Wednesday, July 29th. Jefferies Financial Group set a $45.00 price target on Copart in a research report on Friday, May 22nd. Finally, Freedom Capital raised Copart to a “strong-buy” rating in a report on Friday, June 26th. Three equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $41.50.
View Our Latest Analysis on CPRT
About Copart
Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.
Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.
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