Live Oak Private Wealth LLC Invests $7.07 Million in Copart, Inc. $CPRT

Key Points

• Live Oak Private Wealth acquired 250,804 Copart shares worth approximately $7.07 million during the second quarter. Institutional investors collectively own 85.78% of the company.
• Copart shares opened at $32.47, down 1.6%, with a market capitalization of about $30.06 billion. Analysts have a consensus “Hold” rating and an average price target of $41.50, though ratings range from strong buy to sell.
• CEO Jeffrey Liaw sold 27,745 shares for approximately $846,000, reducing his ownership by 21.78%; insiders collectively own 9.60% of the stock.

Live Oak Private Wealth LLC bought a new stake in Copart, Inc. (NASDAQ:CPRT - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 250,804 shares of the business services provider's stock, valued at approximately $7,070,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of CPRT. C M Bidwell & Associates Ltd. purchased a new position in Copart during the 2nd quarter worth $25,000. Versant Capital Management Inc raised its holdings in shares of Copart by 110.9% in the second 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 during the last quarter. Cache Advisors LLC acquired a new stake in shares of Copart during the first quarter worth about $31,000. Compass Financial Management LLC acquired a new stake in shares of Copart during the second quarter worth about $33,000. Finally, Reflection Asset Management purchased a new position in shares of Copart during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 85.78% of the company's stock.

Copart Trading Down 1.6%

Shares of CPRT stock opened at $32.47 on Wednesday. The stock has a 50 day simple moving average of $29.90 and a 200-day simple moving average of $32.31. The company has a market cap of $30.06 billion, a price-to-earnings ratio of 20.17, a price-to-earnings-growth ratio of 1.99 and a beta of 1.03. Copart, Inc. has a 12-month low of $26.81 and a 12-month high of $50.11.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Jefferies Financial Group set a $45.00 price objective on Copart in a research note on Friday, May 22nd. Zacks Research downgraded Copart from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. Barclays set a $25.00 target price on Copart and gave the company an "underweight" rating in a report on Wednesday, August 26th. Freedom Capital upgraded Copart to a "strong-buy" rating in a research note on Friday, June 26th. Finally, Stephens reaffirmed an "equal weight" rating and set a $35.00 price target on shares of Copart in a report on Thursday, August 20th. Three analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $41.50.

Insiders Place Their Bets

In related news, CEO Jeffrey Liaw sold 27,745 shares of the company's stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total transaction of $845,945.05. Following the transaction, the chief executive officer owned 99,641 shares of the company's stock, valued at $3,038,054.09. This represents a 21.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 9.60% of the stock is owned by corporate insiders.

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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