Hsbc Holdings PLC lifted its stake in shares of Copart, Inc. (NASDAQ:CPRT – Free Report) by 2.0% in the second quarter, Holdings Channel reports. The institutional investor owned 3,786,191 shares of the business services provider’s stock after buying an additional 75,124 shares during the quarter. Hsbc Holdings PLC’s holdings in Copart were worth $106,662,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Quadrant Capital Group LLC grew its holdings in Copart by 1.3% during the 3rd quarter. Quadrant Capital Group LLC now owns 20,693 shares of the business services provider’s stock worth $931,000 after acquiring an additional 264 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in Copart by 23.8% in the second quarter. Geneos Wealth Management Inc. now owns 1,384 shares of the business services provider’s stock valued at $68,000 after buying an additional 266 shares during the last quarter. Valeo Financial Advisors LLC increased its holdings in Copart by 4.6% in the fourth quarter. Valeo Financial Advisors LLC now owns 6,395 shares of the business services provider’s stock valued at $250,000 after buying an additional 282 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in 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 buying an additional 288 shares in the last quarter. Finally, American Trust lifted its holdings in Copart by 2.1% during the 3rd quarter. American Trust now owns 14,230 shares of the business services provider’s stock worth $640,000 after buying an additional 295 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on CPRT shares. JPMorgan Chase & Co. upgraded Copart from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $32.00 to $40.00 in a report on Thursday. Freedom Capital upgraded shares of Copart to a “strong-buy” rating in a research note on Friday, June 26th. Zacks Research downgraded shares of Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Copart in a report on Wednesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft set a $40.00 price objective on shares of Copart in a research report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $38.83.
Copart Price Performance
Shares of NASDAQ:CPRT opened at $33.72 on Monday. The company’s 50-day moving average price is $30.07 and its 200 day moving average price is $32.23. The company has a market cap of $31.22 billion, a PE ratio of 20.94, a P/E/G ratio of 1.62 and a beta of 1.03. Copart, Inc. has a fifty-two week low of $26.81 and a fifty-two week high of $49.16.
Insider Buying and Selling at Copart
In related news, CEO Jeffrey Liaw sold 27,745 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total value of $845,945.05. Following the sale, the chief executive officer directly owned 99,641 shares in the company, valued at $3,038,054.09. This trade represents a 21.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 9.60% of the company’s stock.
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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