2,892,286 Shares in Copart, Inc. $CPRT Purchased by Caisse de depot et placement du Quebec

Caisse de depot et placement du Quebec acquired a new position in Copart, Inc. (NASDAQ:CPRT) during the 2nd quarter, HoldingsChannel reports. The fund acquired 2,892,286 shares of the business services provider’s stock, valued at approximately $81,534,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPRT. BlackRock Inc. purchased a new stake in shares of Copart during the 2nd quarter worth approximately $1,908,980,000. Bank of New York Mellon Corp purchased a new position in Copart in the second quarter valued at approximately $488,663,000. Deutsche Bank AG purchased a new position in Copart in the second quarter valued at approximately $436,413,000. Norges Bank bought a new position in Copart during the fourth quarter valued at $569,569,000. Finally, Legal & General Group Plc bought a new position in Copart during the second quarter valued at $167,000,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Zacks Research lowered 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 note on Friday, June 26th. Barclays set a $25.00 price objective on Copart and gave the company an “underweight” rating in a research note on Wednesday. Jefferies Financial Group set a $45.00 target price on shares of Copart in a research report on Friday, May 22nd. Finally, Weiss Ratings reiterated 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 issued a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $41.50.

Copart Price Performance

NASDAQ CPRT opened at $32.76 on Friday. The company’s 50 day simple moving average is $29.72 and its two-hundred day simple moving average is $32.47. Copart, Inc. has a 1 year low of $26.81 and a 1 year high of $50.11. The stock has a market capitalization of $30.33 billion, a PE ratio of 20.35 and a beta of 1.01.

Insider Buying and Selling at Copart

In related news, CEO Jeffrey Liaw sold 27,745 shares of the stock in a transaction 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 owned 99,641 shares in the company, valued at approximately $3,038,054.09. This trade represents a 21.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 9.60% of the company’s stock.

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.