Copart, Inc. $CPRT Shares Acquired by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its Copart stake by 2% in the second quarter, owning 3.79 million shares valued at approximately $106.7 million. Institutional investors collectively own 85.78% of the company.
• Copart shares opened at $33.72, with a market capitalization of $31.22 billion and a 52-week range of $26.81 to $49.16. The stock trades at a P/E ratio of 20.94.
• Analyst sentiment is mixed, with ratings ranging from strong buy to sell; the consensus rating is Hold and the average price target is $38.83. CEO Jeffrey Liaw also sold 27,745 shares for about $846,000.

Hsbc Holdings PLC increased its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 2.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,786,191 shares of the business services provider's stock after purchasing an additional 75,124 shares during the period. Hsbc Holdings PLC owned 0.41% of Copart worth $106,662,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in Copart during the second quarter worth approximately $1,908,980,000. Bank of New York Mellon Corp purchased a new stake in shares of Copart during the 2nd quarter valued at $488,663,000. Deutsche Bank AG acquired a new stake in shares of Copart during the 2nd quarter worth $436,413,000. Norges Bank acquired a new position in Copart in the fourth quarter valued at $569,569,000. Finally, Bank of America Corp DE purchased a new stake in Copart during the second quarter valued at about $191,347,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Price Performance

CPRT opened at $33.72 on Monday. The firm's 50 day moving average is $30.07 and its 200-day moving average is $32.23. Copart, Inc. has a 52-week low of $26.81 and a 52-week high of $49.16. The firm has a market capitalization of $31.22 billion, a P/E ratio of 20.94, a P/E/G ratio of 1.62 and a beta of 1.03.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of the business's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total value of $845,945.05. Following the transaction, the chief executive officer owned 99,641 shares in the company, valued at $3,038,054.09. The trade was a 21.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 9.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CPRT has been the topic of a number of research reports. Jefferies Financial Group set a $45.00 price objective on Copart in a report on Friday, May 22nd. Deutsche Bank Aktiengesellschaft set a $40.00 price target on shares of Copart in a research report on Thursday. Zacks Research downgraded shares of Copart from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. Weiss Ratings reissued a "sell (d+)" rating on shares of Copart in a research note on Wednesday, July 29th. Finally, Freedom Capital raised shares of Copart to a "strong-buy" rating in a research report on Friday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $38.83.

Copart Profile

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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