Nykredit A S Invests $5.18 Million in Copart, Inc. $CPRT

Key Points

• Nykredit A/S acquired 183,919 Copart shares in the second quarter, valued at approximately $5.18 million. Institutional investors and hedge funds collectively own 85.78% of the company.
• Analyst sentiment remains mixed, with Copart holding a consensus “Hold” rating and an average price target of $38.83. Recent targets range from $25 to $40, including JPMorgan’s upgrade to “Overweight.”
• Copart shares opened at $33.72, compared with a 12-month range of $26.81 to $49.16. CEO Jeffrey Liaw sold 27,745 shares for approximately $846,000, reducing his direct ownership by 21.78%.

Nykredit A S acquired a new stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 183,919 shares of the business services provider's stock, valued at approximately $5,185,000.

Several other hedge funds have also modified their holdings of CPRT. C M Bidwell & Associates Ltd. purchased a new stake in Copart in the second quarter valued at approximately $25,000. Versant Capital Management Inc raised its stake in Copart by 110.9% during the second quarter. Versant Capital Management Inc now owns 947 shares of the business services provider's stock worth $27,000 after purchasing an additional 498 shares during the period. Cache Advisors LLC purchased a new position in Copart during the first quarter worth approximately $31,000. Compass Financial Management LLC acquired a new position in shares of Copart in the 2nd quarter valued at $33,000. Finally, Reflection Asset Management purchased a new stake in shares of Copart during the 4th quarter valued at $34,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Copart Stock Performance

NASDAQ:CPRT opened at $33.72 on Monday. The firm's fifty day simple moving average is $30.07 and its 200 day simple moving average is $32.23. Copart, Inc. has a twelve month low of $26.81 and a twelve month high of $49.16. The firm has a market capitalization of $31.22 billion, a price-to-earnings ratio of 20.94, a PEG ratio of 1.62 and a beta of 1.03.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of the firm's stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total value of $845,945.05. Following the transaction, the chief executive officer directly owned 99,641 shares of the company's stock, 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 document filed with the SEC, which is available through this hyperlink. 9.60% of the stock is owned by company 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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