Copart, Inc. $CPRT Shares Purchased by Guggenheim Capital LLC

Key Points

• Guggenheim Capital LLC boosted its shareholding in Copart, Inc. by 12.3% in the first quarter, now owning 433,508 shares worth approximately $24.5 million.
• CEO Jeffrey Liaw recently sold 24,088 shares of Copart for over $1.1 million, representing a 43.31% reduction in his ownership.
• Analyst ratings for Copart have seen major changes, with JPMorgan Chase lowering its price target from $60.00 to $55.00 and a consensus rating of "Hold" among analysts.

Guggenheim Capital LLC increased its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 12.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 433,508 shares of the business services provider's stock after purchasing an additional 47,331 shares during the quarter. Guggenheim Capital LLC's holdings in Copart were worth $24,532,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cloud Capital Management LLC acquired a new position in Copart during the first quarter worth $26,000. Sunbelt Securities Inc. acquired a new position in Copart during the fourth quarter worth $31,000. Accent Capital Management LLC purchased a new position in Copart during the first quarter worth $36,000. Financial Network Wealth Advisors LLC increased its position in Copart by 152.6% during the first quarter. Financial Network Wealth Advisors LLC now owns 783 shares of the business services provider's stock worth $44,000 after buying an additional 473 shares in the last quarter. Finally, SouthState Corp purchased a new position in Copart during the first quarter worth $45,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of the business's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 9.68% of the company's stock.

Copart Stock Up 0.5%

Shares of NASDAQ:CPRT opened at $48.65 on Wednesday. The company has a market cap of $47.04 billion, a P/E ratio of 32.01 and a beta of 1.04. Copart, Inc. has a 52 week low of $45.05 and a 52 week high of $64.38. The business has a fifty day simple moving average of $47.36 and a 200-day simple moving average of $53.35.

Analyst Ratings Changes

Several research firms have weighed in on CPRT. JPMorgan Chase & Co. dropped their price target on Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Stephens began coverage on Copart in a research report on Tuesday, July 8th. They set an "equal weight" rating and a $50.00 price target for the company. Finally, Robert W. Baird dropped their price target on Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a research report on Thursday, July 17th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Copart currently has a consensus rating of "Hold" and a consensus target price of $53.33.

Copart Profile

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.

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