Expect Equity LLC Acquires Shares of 41,907 Copart, Inc. $CPRT

Key Points

• Expect Equity LLC purchased 41,907 Copart shares in the second quarter, valued at approximately $1.18 million. Several other institutional investors also initiated positions, and institutions and hedge funds now own 85.78% of the stock.
• Analyst views remain mixed, with ratings ranging from strong buy to strong sell. MarketBeat reports a consensus rating of Hold and an average price target of $41.67.
• Copart shares opened at $33.33, compared with a 12-month range of $26.81 to $50.11. CEO Jeffrey Liaw sold 27,745 shares for roughly $846,000, reducing his ownership by 21.78%.

Expect Equity LLC purchased a new stake in Copart, Inc. (NASDAQ:CPRT - Free Report) in the second quarter, according to its most recent filing with the SEC. The fund purchased 41,907 shares of the business services provider's stock, valued at approximately $1,181,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Palisade Capital Management LP bought a new position in Copart during the second quarter worth $5,352,000. Canada Pension Plan Investment Board acquired a new position in Copart in the second quarter worth $45,318,000. Eschler Asset Management LLP bought a new stake in Copart during the second quarter valued at $846,000. Legal & General Group Plc bought a new stake in Copart during the second quarter valued at $167,000,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Copart during the second quarter worth $77,781,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CPRT shares. Stephens restated an "equal weight" rating and issued a $35.00 price target on shares of Copart in a research report on Thursday, August 20th. Freedom Capital upgraded shares of Copart to a "strong-buy" rating in a research note on Friday, June 26th. Barclays set a $26.00 target price on shares of Copart and gave the stock an "underweight" rating in a report on Tuesday, July 21st. Zacks Research downgraded Copart from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. Finally, Jefferies Financial Group set a $45.00 target price on Copart in a report on Friday, May 22nd. Three research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Copart has a consensus rating of "Hold" and a consensus target price of $41.67.

Copart Price Performance

CPRT opened at $33.33 on Wednesday. Copart, Inc. has a 12 month low of $26.81 and a 12 month high of $50.11. The stock has a market cap of $30.86 billion, a P/E ratio of 20.70 and a beta of 1.01. The stock's 50 day moving average price is $29.61 and its 200 day moving average price is $32.57.

Insider Activity

In other news, CEO Jeffrey Liaw sold 27,745 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total value of $845,945.05. Following the completion of the transaction, the chief executive officer owned 99,641 shares of the company's stock, valued at approximately $3,038,054.09. This represents a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 9.60% of the company's stock.

About Copart

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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