Engineers Gate Manager LP Purchases 56,237 Shares of Copart, Inc. $CPRT

Key Points

• Engineers Gate Manager LP increased its Copart position by 11.6% in the second quarter, purchasing 56,237 shares and bringing its total holdings to 540,194 shares valued at approximately $15.2 million. Institutional investors own 85.78% of Copart’s stock.
• Copart CEO Jeffrey Liaw sold 27,745 shares for about $845,945, reducing his position by 21.78%; company insiders own 9.60% of the stock.
• Analyst sentiment remains mixed but leans positive, with Copart holding a consensus “Moderate Buy” rating and an average price target of $38.83 versus its reported opening price of $32.03.

Engineers Gate Manager LP lifted its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 11.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 540,194 shares of the business services provider's stock after purchasing an additional 56,237 shares during the period. Engineers Gate Manager LP owned 0.06% of Copart worth $15,228,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other 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 transaction of $845,945.05. Following the sale, the chief executive officer owned 99,641 shares in the company, valued at approximately $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 accessible through the SEC website. Corporate insiders own 9.60% of the company's stock.

Analyst Upgrades and Downgrades

CPRT has been the topic of several recent analyst reports. JPMorgan Chase & Co. upgraded shares of Copart from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $32.00 to $40.00 in a report on Thursday, September 3rd. Freedom Capital upgraded shares of Copart to a "strong-buy" rating in a report on Friday, June 26th. Barclays set a $25.00 target price on shares of Copart and gave the stock an "underweight" rating in a research report on Wednesday, August 26th. Zacks Research raised shares of Copart from a "strong sell" rating to a "hold" rating in a research note on Monday. Finally, Stephens reissued an "equal weight" rating and issued a $35.00 price target on shares of Copart in a research note on Thursday, August 20th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $38.83.

Copart Stock Down 1.7%

NASDAQ CPRT opened at $32.03 on Thursday. The firm has a market capitalization of $29.65 billion, a PE ratio of 19.89, a P/E/G ratio of 1.56 and a beta of 1.03. The stock's 50 day moving average is $30.34 and its 200 day moving average is $32.12. Copart, Inc. has a twelve month low of $26.81 and a twelve month high of $49.05.

Copart Company Profile

Copart, Inc NASDAQ: CPRT provides online vehicle auction and remarketing services. The company operates a global marketplace where damaged, recovered, used and other vehicles are sold primarily through online auctions. Its offerings include salvage and clean-title vehicles, with inventory sourced from insurance companies, banks, dealerships, fleet operators, rental companies, government agencies and other organizations.

Copart supports the vehicle remarketing process through inspection, storage, transportation, title processing and auction services.

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