Evolve Private Wealth LLC Makes New $550,000 Investment in Copart, Inc. $CPRT

Evolve Private Wealth LLC acquired a new stake in Copart, Inc. (NASDAQ:CPRT) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 19,517 shares of the business services provider’s stock, valued at approximately $550,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in CPRT. BlackRock Inc. bought a new stake in Copart during the 2nd quarter valued at $1,908,980,000. State Street Corp grew its holdings in Copart by 1.3% in the 4th quarter. State Street Corp now owns 37,555,437 shares of the business services provider’s stock worth $1,470,295,000 after acquiring an additional 492,506 shares during the last quarter. Capital World Investors increased its position in shares of Copart by 25.1% in the fourth quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock valued at $1,085,588,000 after acquiring an additional 5,555,101 shares during the period. Geode Capital Management LLC increased its position in shares of Copart by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 23,255,161 shares of the business services provider’s stock valued at $906,836,000 after acquiring an additional 131,703 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Copart by 21.7% during the fourth quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock valued at $860,618,000 after acquiring an additional 3,918,610 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling at Copart

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 value of $845,945.05. Following the sale, the chief executive officer owned 99,641 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.60% of the stock is owned by corporate insiders.

Copart Price Performance

CPRT stock opened at $33.26 on Tuesday. Copart, Inc. has a 1 year low of $26.81 and a 1 year high of $50.11. The firm has a 50-day moving average of $29.55 and a 200 day moving average of $32.62. The company has a market cap of $30.79 billion, a P/E ratio of 20.66 and a beta of 1.01.

Analyst Ratings Changes

CPRT has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Copart in a research note on Wednesday, July 29th. Jefferies Financial Group set a $45.00 price target on Copart in a research report on Friday, May 22nd. Barclays set a $26.00 price objective on Copart and gave the stock an “underweight” rating in a report on Tuesday, July 21st. Stephens reissued an “equal weight” rating and set a $35.00 target price on shares of Copart in a research note on Thursday, August 20th. Finally, Freedom Capital upgraded Copart to a “strong-buy” rating in a report on Friday, June 26th. Three equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $41.67.

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.