Parkside Financial Bank & Trust Purchases 16,743 Shares of Copart, Inc. $CPRT

Parkside Financial Bank & Trust grew its position in Copart, Inc. (NASDAQ:CPRT) by 708.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 19,105 shares of the business services provider’s stock after buying an additional 16,743 shares during the period. Parkside Financial Bank & Trust’s holdings in Copart were worth $539,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Copart during the second quarter valued at $1,908,980,000. California State Teachers Retirement System increased its position in Copart by 2,995.5% in the second quarter. California State Teachers Retirement System now owns 40,541,392 shares of the business services provider’s stock worth $1,142,862,000 after purchasing an additional 39,231,718 shares during the period. Bank of New York Mellon Corp acquired a new stake in Copart in the second quarter worth about $488,663,000. Deutsche Bank AG bought a new stake in Copart during the 2nd quarter worth about $436,413,000. Finally, Norges Bank acquired a new position in Copart during the 4th quarter valued at about $569,569,000. Institutional investors own 85.78% of the company’s stock.

Copart Stock Down 3.3%

Shares of CPRT stock opened at $32.60 on Wednesday. Copart, Inc. has a 12-month low of $26.81 and a 12-month high of $49.11. The firm has a fifty day moving average of $30.27 and a 200-day moving average of $32.16. The company has a market capitalization of $30.18 billion, a price-to-earnings ratio of 20.25, a P/E/G ratio of 1.62 and a beta of 1.03.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft set a $40.00 target price on shares of Copart in a research note on Thursday, September 3rd. Zacks Research lowered shares of Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. 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. Jefferies Financial Group set a $45.00 price objective on shares of Copart in a research note on Friday, May 22nd. Finally, Freedom Capital raised shares of Copart to a “strong-buy” rating in a report on Friday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $38.83.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction dated 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 of the company’s stock, valued at $3,038,054.09. This trade represents a 21.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company 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.