Empowered Funds LLC Takes $3.88 Million Position in Copart, Inc. $CPRT

Key Points

• Empowered Funds LLC acquired 137,453 Copart shares during the second quarter, worth approximately $3.88 million. Institutional investors and hedge funds collectively own 85.78% of the company.
• CEO Jeffrey Liaw sold 27,745 shares for approximately $845,945, reducing his ownership by 21.78%; corporate insiders own 9.60% of Copart.
• Copart shares opened at $32.47, while analyst sentiment was mixed. The stock carries a consensus “Hold” rating and a $41.50 average price target, with ratings ranging from “Strong Buy” to “Strong Sell.”

Empowered Funds LLC bought a new position in Copart, Inc. (NASDAQ:CPRT - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 137,453 shares of the business services provider's stock, valued at approximately $3,875,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quadrant Capital Group LLC lifted its holdings in Copart by 1.3% in the third quarter. Quadrant Capital Group LLC now owns 20,693 shares of the business services provider's stock valued at $931,000 after acquiring an additional 264 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of Copart by 23.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,384 shares of the business services provider's stock worth $68,000 after purchasing an additional 266 shares during the period. Valeo Financial Advisors LLC increased its holdings in shares of Copart by 4.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 6,395 shares of the business services provider's stock valued at $250,000 after purchasing an additional 282 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Copart by 11.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,793 shares of the business services provider's stock valued at $109,000 after purchasing an additional 288 shares in the last quarter. Finally, American Trust lifted its stake in shares of Copart by 2.1% in the 3rd quarter. American Trust now owns 14,230 shares of the business services provider's stock valued at $640,000 after purchasing an additional 295 shares during the period. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Copart

In other 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 completion of the sale, the chief executive officer owned 99,641 shares of the company's stock, valued at $3,038,054.09. The trade was a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 9.60% of the stock is owned by corporate insiders.

Copart Stock Performance

NASDAQ:CPRT opened at $32.47 on Wednesday. The company has a fifty day moving average of $29.90 and a two-hundred day moving average of $32.31. The stock has a market capitalization of $30.06 billion, a PE ratio of 20.17, a P/E/G ratio of 1.99 and a beta of 1.03. Copart, Inc. has a fifty-two week low of $26.81 and a fifty-two week high of $50.11.

Analyst Ratings Changes

Several research firms recently commented on CPRT. Freedom Capital upgraded shares of Copart to a "strong-buy" rating in a research report on Friday, June 26th. Jefferies Financial Group set a $45.00 price objective on shares of Copart in a research report on Friday, May 22nd. Barclays set a $25.00 target price on shares of Copart and gave the stock an "underweight" rating in a research note on Wednesday, August 26th. Weiss Ratings restated a "sell (d+)" rating on shares of Copart in a research report on Wednesday, July 29th. Finally, Zacks Research lowered Copart from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. Three investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average 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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