Squarepoint Ops LLC raised its stake in shares of Copart, Inc. (NASDAQ:CPRT – Free Report) by 89.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,915,298 shares of the business services provider’s stock after acquiring an additional 1,375,784 shares during the quarter. Squarepoint Ops LLC’s holdings in Copart were worth $82,182,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Quadrant Capital Group LLC lifted its stake in Copart by 1.3% in the 3rd quarter. Quadrant Capital Group LLC now owns 20,693 shares of the business services provider’s stock valued at $931,000 after buying an additional 264 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Copart by 23.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,384 shares of the business services provider’s stock worth $68,000 after buying an additional 266 shares in the last quarter. Valeo Financial Advisors LLC raised its holdings in shares of Copart by 4.6% during the fourth quarter. Valeo Financial Advisors LLC now owns 6,395 shares of the business services provider’s stock valued at $250,000 after acquiring an additional 282 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Copart by 11.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,793 shares of the business services provider’s stock valued at $109,000 after acquiring an additional 288 shares during the last quarter. Finally, American Trust lifted its position in shares of Copart by 2.1% in the third quarter. American Trust now owns 14,230 shares of the business services provider’s stock valued at $640,000 after acquiring an additional 295 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.
Insiders Place Their Bets
In related news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total value of $845,945.05. Following the completion of the sale, the chief executive officer owned 99,641 shares in the company, valued at approximately $3,038,054.09. This trade represents a 21.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 9.60% of the stock is currently owned by company insiders.
Copart Trading Down 3.3%
Wall Street Analyst Weigh In
A number of research analysts have weighed in on CPRT shares. Jefferies Financial Group set a $45.00 price objective on Copart in a report on Friday, May 22nd. JPMorgan Chase & Co. raised shares of Copart from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $32.00 to $40.00 in a report on Thursday, September 3rd. Barclays set a $25.00 target price on shares of Copart and gave the company an “underweight” rating in a research report on Wednesday, August 26th. Deutsche Bank Aktiengesellschaft set a $40.00 price target on shares of Copart in a research note on Thursday, September 3rd. Finally, Stephens reaffirmed an “equal weight” rating and set a $35.00 price objective on shares of Copart in a research note on Thursday, August 20th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Copart presently has a consensus rating of “Hold” and a consensus price target of $38.83.
Check Out Our Latest Stock 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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