Trexquant Investment LP Has $20.56 Million Holdings in Copart, Inc. $CPRT

Key Points

• Trexquant Investment LP significantly increased its stake in Copart, Inc. by 961.3%, acquiring an additional 329,020 shares to hold a total of 363,245 shares valued at approximately $20.56 million.
• Majority of Copart’s stock, about 85.78%, is owned by institutional investors, indicating strong confidence from large financial entities in the company's performance.
• Analysts have recently adjusted their price targets for Copart, with estimates ranging from $50.00 to $55.00, and the stock currently holds an average rating of “Hold.”

Trexquant Investment LP boosted its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 961.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 363,245 shares of the business services provider's stock after buying an additional 329,020 shares during the quarter. Trexquant Investment LP's holdings in Copart were worth $20,556,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CPRT. Cloud Capital Management LLC bought a new position in shares of Copart during the 1st quarter valued at $26,000. Sunbelt Securities Inc. bought a new position in shares of Copart during the 4th quarter valued at $31,000. Accent Capital Management LLC bought a new position in shares of Copart during the 1st quarter valued at $36,000. Financial Network Wealth Advisors LLC raised its holdings 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 purchasing an additional 473 shares in the last quarter. Finally, SouthState Corp bought a new position in shares of Copart during the 1st quarter valued at $45,000. Hedge funds and other institutional investors own 85.78% of the company's stock.

Copart Trading Up 0.1%

CPRT traded up $0.06 during trading on Monday, hitting $48.81. The stock had a trading volume of 5,330,175 shares, compared to its average volume of 5,537,744. The firm has a market cap of $47.20 billion, a PE ratio of 32.11 and a beta of 1.03. Copart, Inc. has a 12 month low of $45.05 and a 12 month high of $64.38. The company has a 50 day simple moving average of $47.41 and a 200-day simple moving average of $53.09.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CPRT shares. Stephens started coverage on shares of Copart in a report on Tuesday, July 8th. They set an "equal weight" rating and a $50.00 price target on the stock. JPMorgan Chase & Co. cut their price target on shares of Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Finally, Robert W. Baird cut their price target 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. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $53.33.

Insider Buying and Selling at Copart

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer directly owned 31,527 shares in the company, valued at $1,463,798.61. The trade was a 43.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 9.68% of the company's stock.

Copart 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.