Tema Etfs LLC Raises Stock Holdings in Copart, Inc. $CPRT

Key Points

• Tema Etfs LLC significantly increased its stake in Copart, Inc. by 146.2% in the first quarter, owning 30,080 shares worth approximately $1.70 million.
• CEO Jeffrey Liaw sold 24,088 shares of Copart stock valued at over $1.1 million, marking a 43.31% decrease in his ownership.
• Copart currently has a market capitalization of $47 billion with a stock price ranging between $45.05 and $64.38 over the past year.

Tema Etfs LLC raised its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 146.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 30,080 shares of the business services provider's stock after purchasing an additional 17,860 shares during the quarter. Tema Etfs LLC's holdings in Copart were worth $1,702,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CPRT. Cloud Capital Management LLC bought a new position in shares of Copart during the 1st quarter valued at approximately $26,000. Sunbelt Securities Inc. bought a new position in shares of Copart during the 4th quarter valued at approximately $31,000. Accent Capital Management LLC bought a new position in shares of Copart during the 1st quarter valued at approximately $36,000. Financial Network Wealth Advisors LLC grew its stake in shares of Copart by 152.6% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 783 shares of the business services provider's stock valued at $44,000 after acquiring an additional 473 shares during the period. Finally, SouthState Corp bought a new position in shares of Copart during the 1st quarter valued at approximately $45,000. 85.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, CEO Jeffrey Liaw sold 24,088 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the sale, the chief executive officer directly owned 31,527 shares of the company's stock, valued at $1,463,798.61. This represents a 43.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.68% of the stock is owned by company insiders.

Copart Stock Up 0.1%

CPRT stock traded up $0.06 during midday trading 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 12 month low of $45.05 and a 12 month high of $64.38. The firm has a market capitalization of $47.20 billion, a price-to-earnings ratio of 32.11 and a beta of 1.03. The company has a 50 day moving average of $47.41 and a two-hundred day moving average of $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.