Invst LLC Takes Position in Copart, Inc. $CPRT

Invst LLC acquired a new stake in shares of Copart, Inc. (NASDAQ:CPRT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 32,436 shares of the business services provider’s stock, valued at approximately $914,000.

A number of other hedge funds also recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in Copart during the 2nd quarter valued at $1,908,980,000. State Street Corp raised its position in shares of Copart by 1.3% in the 4th quarter. State Street Corp now owns 37,555,437 shares of the business services provider’s stock worth $1,470,295,000 after acquiring an additional 492,506 shares in the last quarter. Capital World Investors lifted its stake in shares of Copart by 25.1% during the 4th quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock worth $1,085,588,000 after purchasing an additional 5,555,101 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Copart by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 23,255,161 shares of the business services provider’s stock worth $906,836,000 after purchasing an additional 131,703 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Copart by 21.7% during the fourth quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock valued at $860,618,000 after purchasing an additional 3,918,610 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Stock Up 0.2%

CPRT stock opened at $33.33 on Wednesday. The stock has a market capitalization of $30.86 billion, a PE ratio of 20.70 and a beta of 1.01. Copart, Inc. has a 52 week low of $26.81 and a 52 week high of $50.11. The firm has a 50 day moving average of $29.61 and a 200 day moving average of $32.57.

Analyst Ratings Changes

Several research firms have issued reports on CPRT. Jefferies Financial Group set a $45.00 target price on Copart in a research note on Friday, May 22nd. Barclays set a $26.00 price target on shares of Copart and gave the company an “underweight” rating in a report on Tuesday, July 21st. Freedom Capital upgraded shares of Copart to a “strong-buy” rating in a research note on Friday, June 26th. Weiss Ratings reissued a “sell (d+)” rating on shares of Copart in a research report on Wednesday, July 29th. Finally, Zacks Research downgraded shares of Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Three research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $41.67.

Insider Activity

In other 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 transaction of $845,945.05. Following the completion of the sale, the chief executive officer directly owned 99,641 shares in the company, 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 SEC, which is accessible through the SEC website. Corporate 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.