Commerce Bank bought a new position in Copart, Inc. (NASDAQ:CPRT - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 51,282 shares of the business services provider's stock, valued at approximately $1,446,000.
Several other hedge funds have also bought and sold shares of the stock. Reflection Asset Management bought a new position in shares of Copart during the 4th quarter valued at approximately $34,000. C M Bidwell & Associates Ltd. purchased a new stake in Copart in the 2nd quarter worth approximately $25,000. Cache Advisors LLC bought a new stake in Copart during the 1st quarter worth approximately $31,000. Versant Capital Management Inc raised its stake 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 acquiring an additional 498 shares during the period. Finally, Triumph Capital Management lifted its holdings in Copart by 424.2% during the fourth quarter. Triumph Capital Management now owns 1,017 shares of the business services provider's stock valued at $40,000 after purchasing an additional 823 shares in the last quarter. Institutional investors own 85.78% of the company's stock.
Insider Buying and Selling
In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of the stock in a transaction dated Tuesday, July 28th. The shares were 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 owned 99,641 shares of the company's stock, valued at $3,038,054.09. This represents a 21.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 9.60% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of brokerages have recently issued reports on CPRT. Barclays set a $26.00 price objective on shares of Copart and gave the stock an "underweight" rating in a research note on Tuesday, July 21st. Zacks Research downgraded shares of Copart from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 28th. Stephens reiterated an "equal weight" rating and issued a $35.00 price target on shares of Copart in a research note on Thursday, August 20th. Jefferies Financial Group set a $45.00 price target on Copart in a report on Friday, May 22nd. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Copart in a research report on Wednesday, July 29th. Three research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, Copart presently has an average rating of "Hold" and an average price target of $41.67.
Check Out Our Latest Research Report on CPRT
Copart Stock Performance
Shares of NASDAQ:CPRT opened at $33.33 on Wednesday. The firm has a market cap of $30.86 billion, a price-to-earnings ratio of 20.70 and a beta of 1.01. The firm has a fifty day moving average price of $29.61 and a 200 day moving average price of $32.57. Copart, Inc. has a fifty-two week low of $26.81 and a fifty-two week high of $50.11.
Copart Company Profile
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Free Report)
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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