Northwestern Mutual Wealth Management Co. Invests $890,000 in Copart, Inc. $CPRT

Key Points

• Northwestern Mutual Wealth Management bought 31,567 Copart shares worth approximately $890,000 during the second quarter. Institutional investors collectively own 85.78% of Copart’s outstanding stock.
• Copart shares opened at $33.33, with a market capitalization of $30.86 billion and a price-to-earnings ratio of 20.70. The stock has traded between $26.81 and $50.11 over the past year.
• Analyst sentiment is mixed, resulting in a consensus “Hold” rating and an average price target of $41.67. Separately, CEO Jeffrey Liaw sold 27,745 shares for about $846,000, reducing his position by 21.78%.

Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 31,567 shares of the business services provider's stock, valued at approximately $890,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Copart during the second quarter valued at $1,908,980,000. Bank of New York Mellon Corp purchased a new stake in Copart in the 2nd quarter worth about $488,663,000. Deutsche Bank AG acquired a new stake in Copart during the 2nd quarter worth about $436,413,000. Norges Bank acquired a new stake in Copart during the 4th quarter worth about $569,569,000. Finally, Capital World Investors grew its stake in Copart by 25.1% during the 4th quarter. Capital World Investors now owns 27,728,398 shares of the business services provider's stock valued at $1,085,588,000 after acquiring an additional 5,555,101 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Price Performance

Shares of NASDAQ CPRT opened at $33.33 on Wednesday. Copart, Inc. has a one year low of $26.81 and a one year high of $50.11. The business's 50-day moving average price is $29.61 and its two-hundred day moving average price is $32.57. The company has a market capitalization of $30.86 billion, a P/E ratio of 20.70 and a beta of 1.01.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CPRT. Stephens reiterated an "equal weight" rating and issued a $35.00 target price on shares of Copart in a report on Thursday, August 20th. Jefferies Financial Group set a $45.00 price target on shares of Copart in a report on Friday, May 22nd. Zacks Research downgraded shares of Copart from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 28th. Freedom Capital upgraded shares of Copart to a "strong-buy" rating in a research note on Friday, June 26th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Copart in a research report on Wednesday, July 29th. Three investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $41.67.

Insider Activity

In related news, CEO Jeffrey Liaw sold 27,745 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 99,641 shares of the company's stock, valued at approximately $3,038,054.09. The trade was a 21.78% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 9.60% of the stock is currently owned by corporate insiders.

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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