Expect Equity LLC Takes $1.18 Million Position in Copart, Inc. $CPRT

Expect Equity LLC acquired a new stake in shares of Copart, Inc. (NASDAQ:CPRT) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 41,907 shares of the business services provider’s stock, valued at approximately $1,181,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted its stake in Copart by 1.3% during the 3rd quarter. Quadrant Capital Group LLC now owns 20,693 shares of the business services provider’s stock valued at $931,000 after purchasing an additional 264 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Copart by 23.8% in the second quarter. Geneos Wealth Management Inc. now owns 1,384 shares of the business services provider’s stock valued at $68,000 after buying an additional 266 shares during the period. Valeo Financial Advisors LLC boosted its stake in Copart by 4.6% during the fourth quarter. Valeo Financial Advisors LLC now owns 6,395 shares of the business services provider’s stock valued at $250,000 after buying an additional 282 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in Copart by 11.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,793 shares of the business services provider’s stock valued at $109,000 after buying an additional 288 shares in the last quarter. Finally, American Trust grew its holdings in Copart by 2.1% during the third quarter. American Trust now owns 14,230 shares of the business services provider’s stock worth $640,000 after acquiring an additional 295 shares during the period. Institutional investors own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

CPRT has been the topic of several research reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Copart in a research report on Wednesday, July 29th. Jefferies Financial Group set a $45.00 price target on shares of Copart in a research report on Friday, May 22nd. Freedom Capital raised Copart to a “strong-buy” rating in a report on Friday, June 26th. Barclays set a $26.00 price target on Copart and gave the company an “underweight” rating in a research report on Tuesday, July 21st. Finally, Zacks Research cut Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Three equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $41.67.

Insiders Place Their Bets

In related news, CEO Jeffrey Liaw sold 27,745 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer owned 99,641 shares of the company’s stock, valued at $3,038,054.09. This trade represents a 21.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 9.60% of the company’s stock.

Copart Stock Performance

Shares of CPRT stock opened at $33.33 on Wednesday. Copart, Inc. has a 52 week low of $26.81 and a 52 week high of $50.11. The stock has a market capitalization of $30.86 billion, a PE ratio of 20.70 and a beta of 1.01. The stock’s fifty day moving average is $29.61 and its 200-day moving average is $32.57.

Copart Company 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.