Taikang Asset Management Hong Kong Co Ltd Buys 22,314 Shares of Copart, Inc. $CPRT

Key Points

• Taikang Asset Management Hong Kong Co Ltd increased its stake in Copart, Inc. by 63% during the first quarter, now holding 57,730 shares valued at approximately $3.27 million.
• Insider trading activity includes CEO Jeffery Liaw selling 24,088 shares for over $1.1 million, resulting in a 43% decrease in his ownership of the company's stock.
• Analysts are mixed on Copart, with Robert W. Baird lowering its target price to $55, while the overall consensus rating is "Hold" with an average target price of $53.33.

Taikang Asset Management Hong Kong Co Ltd lifted its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 63.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 57,730 shares of the business services provider's stock after purchasing an additional 22,314 shares during the period. Taikang Asset Management Hong Kong Co Ltd's holdings in Copart were worth $3,267,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC boosted its position in Copart by 475.0% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 756,270 shares of the business services provider's stock valued at $42,797,000 after buying an additional 624,735 shares during the last quarter. ICONIQ Capital LLC lifted its stake in shares of Copart by 32.5% during the first quarter. ICONIQ Capital LLC now owns 4,928 shares of the business services provider's stock valued at $279,000 after acquiring an additional 1,210 shares during the period. Cadence Bank boosted its holdings in Copart by 5.5% in the first quarter. Cadence Bank now owns 33,092 shares of the business services provider's stock valued at $1,873,000 after acquiring an additional 1,739 shares during the last quarter. Douglass Winthrop Advisors LLC acquired a new stake in Copart in the first quarter worth about $87,903,000. Finally, Maren Capital LLC raised its holdings in Copart by 13.3% during the 1st quarter. Maren Capital LLC now owns 1,204,317 shares of the business services provider's stock worth $68,152,000 after purchasing an additional 141,403 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Robert W. Baird cut their target price on shares of Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a report on Thursday, July 17th. Finally, Stephens began coverage on shares of Copart in a report on Tuesday, July 8th. They issued an "equal weight" rating and a $50.00 price target for the company. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $53.33.

Copart Price Performance

Shares of CPRT traded up $0.14 during mid-day trading on Thursday, hitting $48.75. 4,687,843 shares of the company's stock were exchanged, compared to its average volume of 5,643,125. Copart, Inc. has a 52 week low of $45.05 and a 52 week high of $64.38. The company has a market cap of $47.14 billion, a PE ratio of 31.98 and a beta of 1.04. The company has a 50-day simple moving average of $47.37 and a 200 day simple moving average of $53.32.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of Copart stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total value of $1,118,405.84. Following the sale, the chief executive officer directly owned 31,527 shares in the company, valued at approximately $1,463,798.61. The trade was a 43.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.68% of the company's stock.

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.