NEOS Investment Management LLC Acquires 71,094 Shares of Copart, Inc. $CPRT

Key Points

• NEOS Investment Management increased its Copart stake by 10.8% in the second quarter, buying 71,094 additional shares and bringing its holdings to 731,235 shares valued at approximately $20.6 million.
• Institutional investors own 85.78% of Copart, while CEO Jeffrey Liaw sold 27,745 shares for about $846,000, reducing his ownership by 21.78%.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $38.83, compared with the stock’s reported opening price of $33.72.

NEOS Investment Management LLC lifted its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 10.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 731,235 shares of the business services provider's stock after purchasing an additional 71,094 shares during the period. NEOS Investment Management LLC owned about 0.08% of Copart worth $20,614,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Quadrant Capital Group LLC raised its position in shares of Copart by 1.3% in the 3rd quarter. Quadrant Capital Group LLC now owns 20,693 shares of the business services provider's stock worth $931,000 after acquiring an additional 264 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Copart by 23.8% in the second quarter. Geneos Wealth Management Inc. now owns 1,384 shares of the business services provider's stock valued at $68,000 after purchasing an additional 266 shares during the last quarter. Valeo Financial Advisors LLC lifted its position in shares of Copart by 4.6% during the fourth quarter. Valeo Financial Advisors LLC now owns 6,395 shares of the business services provider's stock valued at $250,000 after buying an additional 282 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Copart by 11.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,793 shares of the business services provider's stock valued at $109,000 after buying an additional 288 shares in the last quarter. Finally, American Trust grew its position in shares of Copart by 2.1% in the 3rd quarter. American Trust now owns 14,230 shares of the business services provider's stock worth $640,000 after buying an additional 295 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company's stock.

Copart Stock Performance

Shares of CPRT opened at $33.72 on Friday. The stock has a 50-day moving average of $30.07 and a two-hundred day moving average of $32.26. The stock has a market cap of $31.22 billion, a P/E ratio of 20.94, a P/E/G ratio of 2.02 and a beta of 1.03. Copart, Inc. has a one year low of $26.81 and a one year high of $49.16.

Insider Activity at Copart

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CPRT. Barclays set a $25.00 price target on shares of Copart and gave the stock an "underweight" rating in a report on Wednesday, August 26th. Deutsche Bank Aktiengesellschaft set a $40.00 price target on Copart in a report on Thursday. Stephens restated an "equal weight" rating and set a $35.00 price objective on shares of Copart in a report on Thursday, August 20th. Jefferies Financial Group set a $45.00 price objective on shares of Copart in a research report on Friday, May 22nd. Finally, JPMorgan Chase & Co. upgraded shares of Copart from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $32.00 to $40.00 in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $38.83.

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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