Cibc World Market Inc. Takes Position in Copart, Inc. $CPRT

Key Points

• CIBC World Market purchased 39,430 shares of Copart during the second quarter, valued at approximately $1.1 million. Institutional investors and hedge funds collectively own 85.78% of the company.
• Copart shares opened at $32.76, with a $30.33 billion market capitalization and a 12-month trading range of $26.81 to $50.11. CEO Jeffrey Liaw sold 27,745 shares for approximately $846,000, reducing his direct holdings by 21.78%.
• Analyst sentiment is mixed, with ratings ranging from strong buy to sell; MarketBeat reports a consensus rating of Hold and an average price target of $41.50.

Cibc World Market Inc. purchased a new stake in Copart, Inc. (NASDAQ:CPRT - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 39,430 shares of the business services provider's stock, valued at approximately $1,112,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in Copart in the second quarter valued at $1,908,980,000. State Street Corp grew its holdings in shares of Copart by 1.3% during the 4th quarter. State Street Corp now owns 37,555,437 shares of the business services provider's stock worth $1,470,295,000 after purchasing an additional 492,506 shares during the period. Capital World Investors grew its holdings in shares of Copart by 25.1% during the 4th 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 period. Geode Capital Management LLC increased its position in shares of Copart by 0.6% during 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 during the last quarter. Finally, Bank of New York Mellon Corp increased its position 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 worth $860,618,000 after purchasing an additional 3,918,610 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company's stock.

Copart Trading Up 0.3%

CPRT stock opened at $32.76 on Friday. The company has a market capitalization of $30.33 billion, a PE ratio of 20.35 and a beta of 1.01. Copart, Inc. has a 12-month low of $26.81 and a 12-month high of $50.11. The business's fifty day moving average price is $29.72 and its 200 day moving average price is $32.47.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of Copart 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 directly owned 99,641 shares of the company's stock, valued at $3,038,054.09. The trade was a 21.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 9.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have commented on CPRT shares. Jefferies Financial Group set a $45.00 target price on shares of Copart in a research report on Friday, May 22nd. Zacks Research cut shares of Copart from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 28th. Stephens reissued an "equal weight" rating and issued a $35.00 price target on shares of Copart in a research note on Thursday, August 20th. Weiss Ratings restated a "sell (d+)" rating on shares of Copart in a report on Wednesday, July 29th. Finally, Freedom Capital raised shares of Copart to a "strong-buy" rating in a research report on Friday, June 26th. Three research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $41.50.

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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