Lone Peak Global Investors LLC Invests $18.45 Million in Copart, Inc. $CPRT

Key Points

• Lone Peak Global Investors acquired 654,606 Copart shares worth approximately $18.45 million during the second quarter, making up about 2.5% of its portfolio and 0.07% of Copart’s outstanding shares.
• Institutional investors own 85.78% of Copart, while CEO Jeffrey Liaw sold 27,745 shares for approximately $846,000, reducing his direct ownership by 21.78%.
• Analyst sentiment is mixed, with Copart holding a consensus “Hold” rating and an average price target of $41.50; the stock opened at $32.47 and has traded between $26.81 and $50.11 over the past year.

Lone Peak Global Investors LLC acquired a new stake in Copart, Inc. (NASDAQ:CPRT - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 654,606 shares of the business services provider's stock, valued at approximately $18,453,000. Copart accounts for about 2.5% of Lone Peak Global Investors LLC's investment portfolio, making the stock its 21st biggest holding. Lone Peak Global Investors LLC owned 0.07% of Copart at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Reflection Asset Management acquired a new stake in Copart during the 4th quarter worth approximately $34,000. C M Bidwell & Associates Ltd. purchased a new position in Copart in the 2nd quarter valued at approximately $25,000. Cache Advisors LLC acquired a new position in shares of Copart in the first quarter worth $31,000. Versant Capital Management Inc grew its stake 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 worth $27,000 after acquiring an additional 498 shares in the last quarter. Finally, Triumph Capital Management increased its position in shares of Copart by 424.2% during the fourth quarter. Triumph Capital Management now owns 1,017 shares of the business services provider's stock worth $40,000 after acquiring an additional 823 shares during the period. Institutional investors and hedge funds own 85.78% of the company's stock.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of the firm's 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 sale, the chief executive officer directly owned 99,641 shares in the company, valued at $3,038,054.09. This trade represents a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CPRT has been the subject of a number of recent research reports. Jefferies Financial Group set a $45.00 target price on Copart in a report on Friday, May 22nd. Weiss Ratings restated a "sell (d+)" rating on shares of Copart in a report on Wednesday, July 29th. Stephens reaffirmed 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 Copart to a "strong-buy" rating in a research note on Friday, June 26th. Finally, Zacks Research lowered shares of Copart from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. Three research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Copart currently has a consensus rating of "Hold" and an average target price of $41.50.

Copart Trading Down 1.6%

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

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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