Canada Pension Plan Investment Board Takes $45.32 Million Position in Copart, Inc. $CPRT

Key Points

• Canada Pension Plan Investment Board acquired 1.61 million Copart shares worth approximately $45.3 million, representing a 0.17% stake. Institutional investors and hedge funds collectively own 85.78% of the company.
• Analyst views remain mixed, with ratings ranging from strong buy to strong sell. Copart has an overall consensus rating of Hold and an average price target of $41.50.
• Copart shares opened at $32.76, with a market capitalization of $30.33 billion and a 52-week trading range of $26.81 to $50.11. CEO Jeffrey Liaw separately sold 27,745 shares for approximately $846,000.

Canada Pension Plan Investment Board bought a new position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,607,595 shares of the business services provider's stock, valued at approximately $45,318,000. Canada Pension Plan Investment Board owned 0.17% of Copart at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. C M Bidwell & Associates Ltd. bought a new stake in Copart in the 2nd quarter valued at $25,000. Versant Capital Management Inc increased its position in Copart by 110.9% during the 2nd quarter. Versant Capital Management Inc now owns 947 shares of the business services provider's stock worth $27,000 after buying an additional 498 shares during the period. Cache Advisors LLC bought a new position in Copart during the 1st quarter worth $31,000. Compass Financial Management LLC acquired a new stake in shares of Copart during the second quarter worth $33,000. Finally, Reflection Asset Management acquired a new stake in shares of Copart during the fourth quarter worth $34,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Stephens restated an "equal weight" rating and issued a $35.00 price target on shares of Copart in a research note on Thursday, August 20th. Freedom Capital upgraded shares of Copart to a "strong-buy" rating in a research note on Friday, June 26th. Zacks Research downgraded shares of Copart from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 28th. Barclays set a $25.00 target price on shares of Copart and gave the stock an "underweight" rating in a research report on Wednesday. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Copart in a report on Wednesday, July 29th. Three research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $41.50.

Copart Stock Performance

NASDAQ:CPRT opened at $32.76 on Friday. The stock has a fifty day moving average price of $29.72 and a 200-day moving average price of $32.47. The company has a market cap of $30.33 billion, a price-to-earnings ratio of 20.35 and a beta of 1.01. Copart, Inc. has a fifty-two week low of $26.81 and a fifty-two week high of $50.11.

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 27,745 shares of the business's 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 completion of the transaction, the chief executive officer owned 99,641 shares of the company's stock, valued at $3,038,054.09. The trade was a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 9.60% of the company's stock.

About Copart

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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