137,453 Shares in Copart, Inc. $CPRT Acquired by Empowered Funds LLC

Empowered Funds LLC acquired a new stake in Copart, Inc. (NASDAQ:CPRT) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 137,453 shares of the business services provider’s stock, valued at approximately $3,875,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Copart during the 2nd quarter worth $1,908,980,000. State Street Corp raised its position in shares of Copart by 1.3% in the fourth quarter. State Street Corp now owns 37,555,437 shares of the business services provider’s stock valued at $1,470,295,000 after buying an additional 492,506 shares during the last quarter. Capital World Investors raised 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 buying an additional 5,555,101 shares during the last quarter. Geode Capital Management LLC lifted its stake 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 worth $906,836,000 after buying an additional 131,703 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake 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 worth $860,618,000 after buying an additional 3,918,610 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Trading Down 1.6%

NASDAQ CPRT opened at $32.47 on Wednesday. The stock has a fifty day simple moving average of $29.90 and a 200-day simple moving average of $32.31. The stock has a market cap of $30.06 billion, a PE ratio of 20.17, a P/E/G ratio of 1.99 and a beta of 1.03. Copart, Inc. has a twelve month low of $26.81 and a twelve month high of $50.11.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction 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 $3,038,054.09. This trade represents a 21.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 9.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CPRT shares. Zacks Research lowered shares of Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Barclays set a $25.00 price objective on shares of Copart and gave the company an “underweight” rating in a report on Wednesday, August 26th. Stephens restated an “equal weight” rating and set a $35.00 target price on shares of Copart in a report on Thursday, August 20th. Jefferies Financial Group set a $45.00 price target on Copart in a research report on Friday, May 22nd. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Copart in a report on Wednesday, July 29th. Three 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 company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $41.50.

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.