Invst LLC Invests $914,000 in Copart, Inc. $CPRT

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

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its stake in Copart by 14.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 333,624 shares of the business services provider’s stock worth $11,076,000 after acquiring an additional 41,060 shares during the period. Handelsbanken Fonder AB increased its stake in shares of Copart by 6.4% in the second quarter. Handelsbanken Fonder AB now owns 578,452 shares of the business services provider’s stock worth $16,307,000 after purchasing an additional 34,855 shares in the last quarter. Focus Partners Advisor Solutions LLC bought a new stake in shares of Copart during the 2nd quarter valued at $1,298,000. Mill Capital Management LLC bought a new stake in shares of Copart during the 2nd quarter valued at $12,711,000. Finally, Barbara Oil Co. purchased a new position in shares of Copart during the 2nd quarter valued at $1,585,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Copart

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of the company’s 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 completion of the sale, the chief executive officer directly owned 99,641 shares in the company, valued at approximately $3,038,054.09. This represents a 21.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 9.60% of the company’s stock.

Wall Street Analyst Weigh In

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

Copart Stock Performance

Shares of NASDAQ:CPRT opened at $33.33 on Wednesday. The firm has a market cap of $30.86 billion, a PE ratio of 20.70 and a beta of 1.01. The firm’s 50 day simple moving average is $29.61 and its 200-day simple moving average is $32.57. Copart, Inc. has a one year low of $26.81 and a one year high of $50.11.

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.