Copart, Inc. $CPRT Shares Sold by Brasada Capital Management LP

Key Points

• Brasada Capital Management LP has reduced its stake in Copart, Inc. by 7.8%, selling 21,083 shares and retaining 248,099 shares, valued at approximately $13.5 million.
• Copart stock has received mixed ratings from analysts, with one Buy rating and three Hold ratings, while price targets have been lowered by firms like JPMorgan Chase and Robert W. Baird.
• CEO Jeffrey Liaw sold 24,088 shares at an average price of $46.43, resulting in a 43.31% decrease in his ownership of Copart stock.

Brasada Capital Management LP lowered its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 7.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 248,099 shares of the business services provider's stock after selling 21,083 shares during the period. Copart makes up about 2.5% of Brasada Capital Management LP's portfolio, making the stock its 7th largest position. Brasada Capital Management LP's holdings in Copart were worth $13,544,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CPRT. Nuveen LLC purchased a new position in shares of Copart in the 1st quarter worth approximately $267,723,000. Fiera Capital Corp grew its position in shares of Copart by 195.6% in the 1st quarter. Fiera Capital Corp now owns 3,992,610 shares of the business services provider's stock worth $225,942,000 after buying an additional 2,642,100 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Copart by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider's stock worth $5,900,295,000 after buying an additional 2,134,890 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Copart by 15.9% in the 1st quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider's stock worth $868,417,000 after buying an additional 2,106,656 shares during the last quarter. Finally, Douglass Winthrop Advisors LLC purchased a new stake in Copart during the 1st quarter worth approximately $87,903,000. Hedge funds and other institutional investors own 85.78% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CPRT. Stephens began coverage on shares of Copart in a research report on Tuesday, July 8th. They set an "equal weight" rating and a $50.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on shares of Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Finally, Robert W. Baird dropped their target price on shares of Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday, July 17th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Copart has a consensus rating of "Hold" and an average target price of $53.33.

Copart Trading Up 0.1%

Shares of CPRT stock traded up $0.06 during trading hours on Monday, hitting $48.81. The company's stock had a trading volume of 5,330,175 shares, compared to its average volume of 5,537,744. The company has a 50 day moving average of $47.43 and a 200 day moving average of $53.02. The stock has a market cap of $47.20 billion, a PE ratio of 32.11 and a beta of 1.03. Copart, Inc. has a 12-month low of $45.05 and a 12-month high of $64.38.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 24,088 shares of the company's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total value of $1,118,405.84. Following the sale, the chief executive officer directly owned 31,527 shares of the company's stock, valued at $1,463,798.61. This represents a 43.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.68% of the stock is owned by company insiders.

Copart Profile

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.