HighTower Advisors LLC lifted its position in shares of Copart, Inc. (NASDAQ:CPRT – Free Report) by 10.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,524,087 shares of the business services provider’s stock after acquiring an additional 146,237 shares during the quarter. HighTower Advisors LLC owned 0.16% of Copart worth $42,964,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Reflection Asset Management purchased a new stake in shares of Copart in the fourth quarter valued at approximately $34,000. C M Bidwell & Associates Ltd. purchased a new stake in shares of Copart during the 2nd quarter worth $25,000. Cache Advisors LLC acquired a new position in shares of Copart during the 1st quarter worth $31,000. Versant Capital Management Inc increased its holdings in shares of Copart by 110.9% in the 2nd quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 498 shares in the last quarter. Finally, Triumph Capital Management increased its holdings in shares of Copart by 424.2% in the 4th quarter. Triumph Capital Management now owns 1,017 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 823 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.
Insider Buying and Selling at Copart
In related news, CEO Jeffrey Liaw sold 27,745 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the transaction, the chief executive officer owned 99,641 shares of the company’s stock, valued at approximately $3,038,054.09. This represents a 21.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 9.60% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
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Copart Stock Performance
Shares of CPRT stock opened at $33.72 on Tuesday. The company has a market capitalization of $31.22 billion, a price-to-earnings ratio of 20.94, a PEG ratio of 1.62 and a beta of 1.03. The firm has a 50-day moving average price of $30.18 and a 200 day moving average price of $32.20. Copart, Inc. has a twelve month low of $26.81 and a twelve month high of $49.16.
Copart Company Profile
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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