758,831 Shares in Copart, Inc. $CPRT Purchased by Parnassus Investments LLC

Key Points

• Parnassus Investments LLC has invested approximately $42.94 million in Copart, Inc., purchasing 758,831 shares in the company during the first quarter.
• As of the latest reports, 85.78% of Copart's stock is owned by institutional investors and hedge funds, reflecting a strong institutional interest in the company.
• Analysts have varied ratings on Copart, with an average rating of "Hold" and a consensus price target of $53.33, indicating a cautious outlook on the stock.

Parnassus Investments LLC purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 758,831 shares of the business services provider's stock, valued at approximately $42,942,000. Parnassus Investments LLC owned 0.08% of Copart at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. WPG Advisers LLC acquired a new stake in shares of Copart during the first quarter worth $138,000. Tema Etfs LLC lifted its holdings in shares of Copart by 146.2% during the first quarter. Tema Etfs LLC now owns 30,080 shares of the business services provider's stock worth $1,702,000 after purchasing an additional 17,860 shares during the period. Trexquant Investment LP lifted its holdings in shares of Copart by 961.3% during the first quarter. Trexquant Investment LP now owns 363,245 shares of the business services provider's stock worth $20,556,000 after purchasing an additional 329,020 shares during the period. OMERS ADMINISTRATION Corp lifted its holdings in shares of Copart by 12.3% during the first quarter. OMERS ADMINISTRATION Corp now owns 65,683 shares of the business services provider's stock worth $3,717,000 after purchasing an additional 7,187 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Copart by 10.5% during the first quarter. BNP Paribas Financial Markets now owns 3,112,946 shares of the business services provider's stock worth $176,162,000 after purchasing an additional 295,753 shares during the period. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 24,088 shares of the firm's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total value of $1,118,405.84. Following the completion of the transaction, the chief executive officer owned 31,527 shares in the company, valued at $1,463,798.61. This trade represents a 43.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 9.68% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CPRT has been the subject of several recent research reports. Robert W. Baird decreased their price target on Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a report on Thursday, July 17th. JPMorgan Chase & Co. cut their price objective on Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Finally, Stephens started coverage on Copart in a research report on Tuesday, July 8th. They issued an "equal weight" rating and a $50.00 price objective for the company. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $53.33.

Copart Stock Performance

NASDAQ:CPRT traded up $0.06 during trading hours on Monday, hitting $48.81. The company's stock had a trading volume of 5,330,175 shares, compared to its average volume of 5,537,744. Copart, Inc. has a 52-week low of $45.05 and a 52-week high of $64.38. The company has a market capitalization of $47.20 billion, a PE ratio of 32.11 and a beta of 1.03. The business's 50-day moving average is $47.41 and its two-hundred day moving average is $53.09.

Copart Company Profile

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.