Knollwood Investment Advisory LLC Sells 15,320 Shares of Copart, Inc. $CPRT

Knollwood Investment Advisory LLC reduced its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 47.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,672 shares of the business services provider’s stock after selling 15,320 shares during the period. Knollwood Investment Advisory LLC’s holdings in Copart were worth $470,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CPRT. BlackRock Inc. bought a new stake in Copart during the 2nd quarter worth approximately $1,908,980,000. Bank of New York Mellon Corp purchased a new stake in shares of Copart in the second quarter worth $488,663,000. Deutsche Bank AG purchased a new stake in shares of Copart in the second quarter worth $436,413,000. Norges Bank bought a new stake in shares of Copart during the 4th quarter valued at $569,569,000. Finally, Bank of America Corp DE bought a new stake in shares of Copart during the 2nd quarter valued at $191,347,000. 85.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CPRT shares. Jefferies Financial Group set a $45.00 target price on shares of Copart in a research note on Friday, May 22nd. Deutsche Bank Aktiengesellschaft set a $40.00 price target on Copart in a report on Thursday. JPMorgan Chase & Co. upgraded Copart from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $32.00 to $40.00 in a research report on Thursday. Stephens reaffirmed an “equal weight” rating and issued a $35.00 price objective on shares of Copart in a research note on Thursday, August 20th. Finally, Freedom Capital raised Copart to a “strong-buy” rating in a research note on Friday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $38.83.

Copart Stock Performance

CPRT stock opened at $33.58 on Friday. Copart, Inc. has a one year low of $26.81 and a one year high of $50.11. The company’s fifty day moving average price is $30.01 and its 200-day moving average price is $32.25. The company has a market capitalization of $31.09 billion, a PE ratio of 20.86, a price-to-earnings-growth ratio of 1.94 and a beta of 1.03.

Insider Transactions at Copart

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 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate 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.