Quantitative Investment Management LLC purchased a new position in Copart, Inc. (NASDAQ:CPRT – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 39,832 shares of the business services provider’s stock, valued at approximately $1,122,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. C M Bidwell & Associates Ltd. acquired a new position in shares of Copart in the 2nd quarter valued at $25,000. Versant Capital Management Inc lifted its position in Copart by 110.9% during the 2nd quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock worth $27,000 after acquiring an additional 498 shares during the period. Cache Advisors LLC acquired a new stake in Copart during the 1st quarter worth about $31,000. Compass Financial Management LLC purchased a new stake in Copart during the 2nd quarter valued at about $33,000. Finally, Reflection Asset Management acquired a new position in shares of Copart in the fourth quarter valued at about $34,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction 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 transaction, the chief executive officer 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.60% of the company’s stock.
Copart Price Performance
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on CPRT. Zacks Research cut Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Freedom Capital upgraded Copart to a “strong-buy” rating in a research report on Friday, June 26th. Stephens reiterated an “equal weight” rating and issued a $35.00 price target on shares of Copart in a report on Thursday, August 20th. Jefferies Financial Group set a $45.00 price target on shares of Copart in a research report on Friday, May 22nd. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Copart in a research note on Wednesday, July 29th. Three investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Copart has an average rating of “Hold” and an average price target of $41.50.
Check Out Our Latest Analysis on CPRT
Copart 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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