iSAM Funds UK Ltd Sells 29,846 Shares of Copart, Inc. $CPRT

Key Points

• iSAM Funds UK Ltd cut its Copart stake by 73.1% in the second quarter, selling 29,846 shares and retaining 11,000 shares valued at approximately $310,000.
• Institutional investors own 85.78% of Copart. Analyst views remain mixed, with a consensus “Hold” rating and an average price target of $38.83, while JPMorgan upgraded the stock to “Overweight” with a $40 target.
• Copart shares opened at $33.58, up 4.4%, with a market capitalization of $31.09 billion. CEO Jeffrey Liaw also sold 27,745 shares for approximately $846,000, reducing his direct position by 21.78%.

iSAM Funds UK Ltd reduced its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 73.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,000 shares of the business services provider's stock after selling 29,846 shares during the quarter. iSAM Funds UK Ltd's holdings in Copart were worth $310,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CPRT. C M Bidwell & Associates Ltd. bought a new position in Copart in the second quarter worth about $25,000. Versant Capital Management Inc boosted its holdings in shares of 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 in the last quarter. Cache Advisors LLC bought a new stake in shares of Copart in the 1st quarter valued at about $31,000. Compass Financial Management LLC purchased a new position in shares of Copart in the 2nd quarter worth approximately $33,000. Finally, Reflection Asset Management purchased a new position in shares of Copart in the 4th quarter worth approximately $34,000. Institutional investors own 85.78% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CPRT shares. JPMorgan Chase & Co. raised shares of Copart from a "neutral" rating to an "overweight" rating and increased their target price for the company from $32.00 to $40.00 in a research report on Thursday. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Copart in a report on Wednesday, July 29th. Barclays set a $25.00 price target on Copart and gave the stock an "underweight" rating in a research report on Wednesday, August 26th. Deutsche Bank Aktiengesellschaft set a $40.00 price objective on Copart in a report on Thursday. Finally, Freedom Capital raised Copart to a "strong-buy" rating in a research report on Friday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $38.83.

Copart Stock Up 4.4%

Shares of NASDAQ CPRT opened at $33.58 on Friday. Copart, Inc. has a 52 week low of $26.81 and a 52 week high of $50.11. The business's 50 day moving average price is $30.01 and its 200 day moving average price is $32.25. The firm has a market cap of $31.09 billion, a P/E ratio of 20.86, a P/E/G ratio of 1.94 and a beta of 1.03.

Insider Buying and Selling

In other news, CEO Jeffrey Liaw sold 27,745 shares of the company's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total value of $845,945.05. Following the sale, the chief executive officer directly owned 99,641 shares of the company's stock, valued at $3,038,054.09. This represents a 21.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.60% of the company's stock.

Copart Company 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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