Hsbc Holdings PLC Makes New $106.66 Million Investment in Copart, Inc. $CPRT

Hsbc Holdings PLC acquired a new position in Copart, Inc. (NASDAQ:CPRT) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,786,191 shares of the business services provider’s stock, valued at approximately $106,662,000.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Copart during the second quarter worth $1,908,980,000. Bank of New York Mellon Corp bought a new stake in Copart in the 2nd quarter valued at $488,663,000. Deutsche Bank AG bought a new position in Copart during the second quarter valued at approximately $436,413,000. Norges Bank purchased a new position in Copart during the 4th quarter valued at approximately $569,569,000. Finally, Legal & General Group Plc bought a new stake in Copart in the 2nd quarter worth approximately $167,000,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CPRT shares. Stephens reissued an “equal weight” rating and issued a $35.00 target price on shares of Copart in a research note on Thursday, August 20th. Zacks Research cut Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Copart in a research report on Wednesday, July 29th. Jefferies Financial Group set a $45.00 target price on Copart in a report on Friday, May 22nd. Finally, Freedom Capital upgraded Copart to a “strong-buy” rating in a report on Friday, June 26th. Three research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $41.67.

Copart Trading Up 0.2%

Shares of NASDAQ CPRT opened at $33.33 on Wednesday. Copart, Inc. has a 12-month low of $26.81 and a 12-month high of $50.11. The stock’s fifty day simple moving average is $29.61 and its two-hundred day simple moving average is $32.57. The stock has a market capitalization of $30.86 billion, a PE ratio of 20.70 and a beta of 1.01.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total value of $845,945.05. Following the transaction, the chief executive officer owned 99,641 shares in the company, valued at $3,038,054.09. The trade was a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 9.60% of the stock is currently owned by insiders.

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.