3,786,191 Shares in Copart, Inc. $CPRT Acquired by Hsbc Holdings PLC

Key Points

• HSBC Holdings acquired 3.79 million Copart shares during the second quarter, worth approximately $106.7 million and representing about 0.41% of the company. Institutional investors collectively own 85.78% of Copart.
• Analyst sentiment is mixed, with ratings ranging from Strong Buy to Strong Sell. The stock carries a consensus rating of Hold and an average price target of $41.67.
• Copart shares opened at $33.33, near the middle of their $26.81–$50.11 twelve-month range. CEO Jeffrey Liaw sold 27,745 shares for approximately $846,000, reducing his position by 21.78%.

Hsbc Holdings PLC bought a new stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 3,786,191 shares of the business services provider's stock, valued at approximately $106,662,000. Hsbc Holdings PLC owned about 0.41% of Copart at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Copart during the 2nd quarter worth $1,908,980,000. State Street Corp raised its position in Copart by 1.3% during the fourth quarter. State Street Corp now owns 37,555,437 shares of the business services provider's stock valued at $1,470,295,000 after purchasing an additional 492,506 shares in the last quarter. Capital World Investors lifted its stake in Copart by 25.1% during the fourth quarter. Capital World Investors now owns 27,728,398 shares of the business services provider's stock worth $1,085,588,000 after purchasing an additional 5,555,101 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Copart by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 23,255,161 shares of the business services provider's stock worth $906,836,000 after purchasing an additional 131,703 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Copart by 21.7% during the 4th quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider's stock valued at $860,618,000 after buying an additional 3,918,610 shares in the last quarter. Institutional investors own 85.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CPRT. Stephens reiterated an "equal weight" rating and issued a $35.00 target price on shares of Copart in a research report on Thursday, August 20th. Freedom Capital upgraded shares of Copart to a "strong-buy" rating in a report on Friday, June 26th. Weiss Ratings restated a "sell (d+)" rating on shares of Copart in a research note on Wednesday, July 29th. Zacks Research lowered shares of Copart from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. Finally, Barclays set a $26.00 target price on Copart and gave the stock an "underweight" rating in a research note on Tuesday, July 21st. Three research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $41.67.

Insider Buying and Selling at Copart

In related news, CEO Jeffrey Liaw sold 27,745 shares of the business's 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 transaction, 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 can be accessed through this link. 9.60% of the stock is currently owned by insiders.

Copart Stock Up 0.2%

CPRT opened at $33.33 on Wednesday. Copart, Inc. has a twelve month low of $26.81 and a twelve month high of $50.11. The firm has a 50 day moving average price of $29.61 and a 200-day moving average price of $32.57. The stock has a market capitalization of $30.86 billion, a price-to-earnings ratio of 20.70 and a beta of 1.01.

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.

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