Caisse DE Depot ET Placement DU Quebec Has $28.75 Million Holdings in Copart, Inc. $CPRT

Key Points

• Caisse DE Depot ET Placement DU Quebec significantly increased its stake in Copart, Inc. by 12,439.4%, acquiring a total of 507,971 shares valued at approximately $28.75 million.
• Several analysts have lowered their target prices for Copart's stock, with Robert W. Baird setting a new target of $55.00, emphasizing a shift to a more cautious outlook on the investment.
• CEO Jeffrey Liaw sold 24,088 shares of Copart at an average price of $46.43, reducing his ownership by 43.31% after this transaction.

Caisse DE Depot ET Placement DU Quebec boosted its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 12,439.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 507,971 shares of the business services provider's stock after buying an additional 503,920 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned 0.05% of Copart worth $28,746,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Sowell Financial Services LLC acquired a new position in Copart in the first quarter worth approximately $604,000. China Universal Asset Management Co. Ltd. grew its position in Copart by 52.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 23,862 shares of the business services provider's stock worth $1,350,000 after buying an additional 8,181 shares during the last quarter. Voleon Capital Management LP acquired a new position in Copart in the 4th quarter worth approximately $1,314,000. Handelsbanken Fonder AB grew its position in Copart by 53.3% during the 1st quarter. Handelsbanken Fonder AB now owns 854,336 shares of the business services provider's stock worth $48,347,000 after purchasing an additional 297,210 shares in the last quarter. Finally, 111 Capital purchased a new position in Copart during the 4th quarter worth approximately $967,000. Institutional investors and hedge funds own 85.78% of the company's stock.

Copart Price Performance

Shares of CPRT stock traded up $0.06 on Friday, hitting $48.81. The company's stock had a trading volume of 5,330,175 shares, compared to its average volume of 5,555,510. Copart, Inc. has a fifty-two week low of $45.05 and a fifty-two week high of $64.38. The firm's fifty day moving average price is $47.41 and its 200-day moving average price is $53.18. The stock has a market capitalization of $47.20 billion, a price-to-earnings ratio of 32.11 and a beta of 1.04.

Insider Activity

In related news, CEO Jeffrey Liaw sold 24,088 shares of Copart 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 completion of the sale, the chief executive officer owned 31,527 shares of the company's stock, valued at approximately $1,463,798.61. The trade was a 43.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.68% of the company's stock.

Analyst Ratings Changes

CPRT has been the topic of several research analyst reports. Stephens initiated coverage on shares of Copart in a research report on Tuesday, July 8th. They set an "equal weight" rating and a $50.00 price objective on the stock. JPMorgan Chase & Co. lowered their price objective 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 lowered their price objective 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 given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $53.33.

About Copart

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.