Raiffeisen Bank International AG Sells 44,596 Shares of Copart, Inc. $CPRT

Key Points

• Raiffeisen Bank International AG reduced its Copart stake by 12.8% in the second quarter, selling 44,596 shares and retaining 304,614 shares valued at approximately $8.58 million.
• Institutional ownership remains high at 85.78%, with major investors including BlackRock, Bank of New York Mellon, Deutsche Bank, Norges Bank, and Bank of America acquiring sizable positions.
• Analyst sentiment is mixed, resulting in a consensus “Hold” rating and an average price target of $38.83; Copart shares opened at $33.58 and were reported to be up 4.4%.

Raiffeisen Bank International AG cut its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 12.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 304,614 shares of the business services provider's stock after selling 44,596 shares during the period. Raiffeisen Bank International AG's holdings in Copart were worth $8,579,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CPRT. BlackRock Inc. purchased a new stake in shares of Copart during the 2nd quarter valued at about $1,908,980,000. Bank of New York Mellon Corp purchased a new position in shares of Copart during the second quarter valued at approximately $488,663,000. Deutsche Bank AG purchased a new position in shares of Copart during the second quarter valued at approximately $436,413,000. Norges Bank bought a new position in Copart during the fourth quarter valued at approximately $569,569,000. Finally, Bank of America Corp DE bought a new position in Copart during the second quarter valued at approximately $191,347,000. Hedge funds and other institutional investors own 85.78% of the company's stock.

Analysts Set New Price Targets

CPRT has been the subject of a number of research analyst reports. Zacks Research downgraded shares of Copart from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft set a $40.00 price target on Copart in a report on Thursday. Weiss Ratings restated a "sell (d+)" rating on shares of Copart in a research note on Wednesday, July 29th. Freedom Capital raised Copart to a "strong-buy" rating in a report on Friday, June 26th. Finally, Stephens reiterated an "equal weight" rating and set a $35.00 price objective on shares of Copart in a research report on Thursday, August 20th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $38.83.

Copart Trading Up 4.4%

Shares of NASDAQ CPRT opened at $33.58 on Friday. Copart, Inc. has a 12-month low of $26.81 and a 12-month high of $50.11. The firm has a market capitalization of $31.09 billion, a price-to-earnings ratio of 20.86, a price-to-earnings-growth ratio of 1.94 and a beta of 1.03. The firm has a 50 day moving average of $30.01 and a 200 day moving average of $32.25.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the transaction, the chief executive officer owned 99,641 shares in the company, valued at $3,038,054.09. This trade represents a 21.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 9.60% of the stock is owned by corporate insiders.

Copart 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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