Live Oak Private Wealth LLC Takes $7.07 Million Position in Copart, Inc. $CPRT

Live Oak Private Wealth LLC purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 250,804 shares of the business services provider’s stock, valued at approximately $7,070,000.

A number of other institutional investors and hedge funds have also modified their holdings of CPRT. BlackRock Inc. acquired a new position in Copart during the second quarter worth $1,908,980,000. State Street Corp boosted its position in Copart by 1.3% during the fourth quarter. State Street Corp now owns 37,555,437 shares of the business services provider’s stock worth $1,470,295,000 after purchasing an additional 492,506 shares in the last quarter. Capital World Investors grew its holdings in 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 purchasing an additional 5,555,101 shares during the last quarter. Geode Capital Management LLC grew its holdings in 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 purchasing an additional 131,703 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Copart by 21.7% in 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 buying an additional 3,918,610 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CPRT. Stephens reaffirmed an “equal weight” rating and set a $35.00 price target on shares of Copart in a research note on Thursday, August 20th. Barclays set a $25.00 target price on shares of Copart and gave the company an “underweight” rating in a report on Wednesday, August 26th. Zacks Research cut shares of Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Jefferies Financial Group set a $45.00 price target on shares of Copart in a report on Friday, May 22nd. Finally, Freedom Capital upgraded shares of Copart to a “strong-buy” rating in a research report on Friday, June 26th. Three investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $41.50.

Insider Buying and Selling

In related news, CEO Jeffrey Liaw sold 27,745 shares of the business’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 completion of the transaction, the chief executive officer owned 99,641 shares of the company’s stock, valued at approximately $3,038,054.09. The trade was a 21.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 9.60% of the company’s stock.

Copart Stock Down 1.6%

Shares of NASDAQ:CPRT opened at $32.47 on Wednesday. Copart, Inc. has a 52-week low of $26.81 and a 52-week high of $50.11. The stock’s fifty day simple moving average is $29.90 and its 200-day simple moving average is $32.31. The company has a market capitalization of $30.06 billion, a P/E ratio of 20.17, a P/E/G ratio of 1.99 and a beta of 1.03.

Copart Profile

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.