Second Line Capital LLC Has $3 Million Holdings in Copart, Inc. $CPRT

Key Points

• Second Line Capital increased its Copart stake by 46.5% in the second quarter, ending the period with 106,235 shares valued at approximately $3 million. Institutional investors and hedge funds own 85.78% of the company.
• Analyst sentiment is mixed, with ratings ranging from strong buy to sell. Copart has a consensus rating of Hold and an average price target of $38.83.
• Copart shares opened at $33.72, with a market capitalization of $31.22 billion. CEO Jeffrey Liaw sold 27,745 shares at an average price of $30.49, reducing his direct ownership by 21.78%.

Second Line Capital LLC increased its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 46.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 106,235 shares of the business services provider's stock after purchasing an additional 33,716 shares during the period. Second Line Capital LLC's holdings in Copart were worth $2,995,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CPRT. C M Bidwell & Associates Ltd. acquired a new stake in Copart during the second quarter worth $25,000. Versant Capital Management Inc raised its stake in shares of Copart by 110.9% in the 2nd quarter. Versant Capital Management Inc now owns 947 shares of the business services provider's stock valued at $27,000 after buying an additional 498 shares in the last quarter. Cache Advisors LLC acquired a new position in shares of Copart in the 1st quarter valued at $31,000. Compass Financial Management LLC bought a new position in shares of Copart during the 2nd quarter worth about $33,000. Finally, Reflection Asset Management acquired a new stake in shares of Copart during the 4th quarter valued at about $34,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CPRT shares. Stephens reissued an "equal weight" rating and issued a $35.00 target price on shares of Copart in a research note on Thursday, August 20th. Deutsche Bank Aktiengesellschaft set a $40.00 price target on shares of Copart in a research note on Thursday. Jefferies Financial Group set a $45.00 price objective on Copart in a research note on Friday, May 22nd. Barclays set a $25.00 target price on Copart and gave the stock an "underweight" rating in a report on Wednesday, August 26th. Finally, Freedom Capital upgraded Copart to a "strong-buy" rating in a research report on Friday, June 26th. 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 issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $38.83.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of the company's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the sale, the chief executive officer directly owned 99,641 shares of the company's stock, valued at approximately $3,038,054.09. This represents a 21.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 9.60% of the company's stock.

Copart Price Performance

Shares of Copart stock opened at $33.72 on Tuesday. The stock has a market capitalization of $31.22 billion, a P/E ratio of 20.94, a price-to-earnings-growth ratio of 1.62 and a beta of 1.03. The company has a 50-day simple moving average of $30.18 and a 200 day simple moving average of $32.20. Copart, Inc. has a 12-month low of $26.81 and a 12-month high of $49.16.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.