Maren Capital LLC Acquires 21,095 Shares of Copart, Inc. $CPRT

Maren Capital LLC raised its holdings in Copart, Inc. (NASDAQ:CPRT) by 0.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,496,614 shares of the business services provider’s stock after acquiring an additional 21,095 shares during the period. Copart makes up 3.3% of Maren Capital LLC’s investment portfolio, making the stock its 13th largest position. Maren Capital LLC owned about 0.27% of Copart worth $70,380,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. BlackRock Inc. bought a new position in shares of Copart in the second quarter worth approximately $1,908,980,000. Bank of New York Mellon Corp bought a new stake in Copart during the second quarter valued at approximately $488,663,000. Deutsche Bank AG bought a new stake in Copart during the second quarter valued at approximately $436,413,000. Norges Bank purchased a new position in Copart in the 4th quarter worth approximately $569,569,000. Finally, Bank of America Corp DE bought a new position in shares of Copart in the 2nd quarter worth $191,347,000. Institutional investors own 85.78% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Jeffrey Liaw sold 27,745 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was 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 owned 99,641 shares of the company’s stock, valued at approximately $3,038,054.09. This represents a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 9.60% of the company’s stock.

Copart Price Performance

Shares of CPRT stock opened at $33.72 on Friday. The business has a 50-day moving average of $30.07 and a 200 day moving average of $32.26. Copart, Inc. has a 1-year low of $26.81 and a 1-year high of $49.16. The stock has a market capitalization of $31.22 billion, a PE ratio of 20.94, a P/E/G ratio of 2.03 and a beta of 1.03.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CPRT shares. Deutsche Bank Aktiengesellschaft set a $40.00 price objective on shares of Copart in a research report on Thursday. JPMorgan Chase & Co. raised Copart from a “neutral” rating to an “overweight” rating and increased their target price for the company from $32.00 to $40.00 in a research note on Thursday. Barclays set a $25.00 price target on Copart and gave the company an “underweight” rating in a research report on Wednesday, August 26th. Stephens reaffirmed an “equal weight” rating and set a $35.00 price target on shares of Copart in a research note on Thursday, August 20th. Finally, Jefferies Financial Group set a $45.00 price objective on Copart in a report on Friday, May 22nd. Two equities research 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $38.83.

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.