Corient Private Wealth LP Acquires Shares of 220,523 Copart, Inc. $CPRT

Key Points

• Corient Private Wealth acquired 220,523 Copart shares in the second quarter, valued at approximately $6.2 million. Institutional investors collectively own 85.78% of the company.
• Copart CEO Jeffrey Liaw sold 27,745 shares for about $846,000, reducing his ownership by 21.78%; insiders own 9.60% of the stock.
• Analyst sentiment is mixed, resulting in a consensus “Hold” rating and a $41.50 average price target. Copart shares recently opened at $32.99, with a market capitalization of about $30.54 billion.

Corient Private Wealth LP acquired a new position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 220,523 shares of the business services provider's stock, valued at approximately $6,217,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. C M Bidwell & Associates Ltd. purchased a new stake in shares of Copart during the second quarter worth approximately $25,000. Versant Capital Management Inc grew its position in Copart by 110.9% in the 2nd quarter. Versant Capital Management Inc now owns 947 shares of the business services provider's stock valued at $27,000 after buying an additional 498 shares during the last quarter. Cache Advisors LLC purchased a new position in Copart in the 1st quarter valued at $31,000. Compass Financial Management LLC acquired a new position in Copart in the 2nd quarter valued at $33,000. Finally, Reflection Asset Management acquired a new position in Copart in the 4th quarter valued at $34,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 27,745 shares of the business's 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 sale, the chief executive officer owned 99,641 shares of the company's stock, valued at approximately $3,038,054.09. The trade was a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 9.60% of the stock is owned by company insiders.

Copart Stock Performance

Copart stock opened at $32.99 on Monday. The company has a market cap of $30.54 billion, a P/E ratio of 20.49 and a beta of 1.01. Copart, Inc. has a one year low of $26.81 and a one year high of $50.11. The business has a fifty day moving average of $29.77 and a two-hundred day moving average of $32.41.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Zacks Research cut shares of Copart from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. Jefferies Financial Group set a $45.00 price target on shares of Copart in a research note on Friday, May 22nd. Freedom Capital raised shares of Copart to a "strong-buy" rating in a report on Friday, June 26th. Barclays set a $25.00 price objective on shares of Copart and gave the company an "underweight" rating in a research report on Wednesday. Finally, Stephens reaffirmed an "equal weight" rating and issued a $35.00 price objective on shares of Copart in a report on Thursday, August 20th. Three investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $41.50.

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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