Ieq Capital LLC Has $4.99 Million Holdings in Copart, Inc. $CPRT

Key Points

• Ieq Capital LLC has decreased its holdings in Copart, Inc. by 22.4% during Q1, owning 88,187 shares valued at approximately $4.99 million.
• Several hedge funds have recently increased their stakes in Copart, with notable increases from Brighton Jones LLC (92.1%) and Itau Unibanco Holding S.A. (340.4%).
• Analysts have revised their price targets for Copart shares, with Robert W. Baird and JPMorgan Chase both setting a new target of $55.00.

Ieq Capital LLC cut its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 22.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 88,187 shares of the business services provider's stock after selling 25,386 shares during the period. Ieq Capital LLC's holdings in Copart were worth $4,991,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Sowell Financial Services LLC acquired a new position in shares of Copart in the 1st quarter worth approximately $604,000. China Universal Asset Management Co. Ltd. lifted its holdings in Copart by 52.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 23,862 shares of the business services provider's stock worth $1,350,000 after buying an additional 8,181 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in Copart by 53.3% during the 1st quarter. Handelsbanken Fonder AB now owns 854,336 shares of the business services provider's stock worth $48,347,000 after buying an additional 297,210 shares in the last quarter. 111 Capital acquired a new position in Copart during the 4th quarter worth $967,000. Finally, Private Trust Co. NA lifted its holdings in Copart by 16.5% during the 1st quarter. Private Trust Co. NA now owns 4,142 shares of the business services provider's stock worth $234,000 after buying an additional 586 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors.

Copart Stock Up 0.1%

Shares of CPRT traded up $0.06 during trading hours on Monday, reaching $48.81. The stock had a trading volume of 5,330,175 shares, compared to its average volume of 5,537,744. Copart, Inc. has a 52 week low of $45.05 and a 52 week high of $64.38. The firm has a 50-day moving average of $47.43 and a 200 day moving average of $53.02. The company has a market cap of $47.20 billion, a P/E ratio of 32.11 and a beta of 1.03.

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 24,088 shares of the company's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total value of $1,118,405.84. Following the completion of the sale, the chief executive officer owned 31,527 shares in the company, valued at $1,463,798.61. This represents a 43.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 9.68% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CPRT shares. JPMorgan Chase & Co. reduced their price objective on Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Stephens initiated coverage on shares of Copart in a research report on Tuesday, July 8th. They set an "equal weight" rating and a $50.00 target price for the company. Finally, Robert W. Baird dropped their target price on shares of Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a research report on Thursday, July 17th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Copart has an average rating of "Hold" and an average price target of $53.33.

Copart Company 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.