Vancity Investment Management Ltd Sells 122,968 Shares of Copart, Inc. $CPRT

Vancity Investment Management Ltd lowered its stake in Copart, Inc. (NASDAQ:CPRT) by 20.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 468,837 shares of the business services provider’s stock after selling 122,968 shares during the period. Copart accounts for 2.0% of Vancity Investment Management Ltd’s holdings, making the stock its 19th largest holding. Vancity Investment Management Ltd’s holdings in Copart were worth $13,217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quadrant Capital Group LLC lifted its stake in shares of Copart by 1.3% in the 3rd quarter. Quadrant Capital Group LLC now owns 20,693 shares of the business services provider’s stock valued at $931,000 after acquiring an additional 264 shares during the last quarter. Geneos Wealth Management Inc. grew its position in Copart by 23.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,384 shares of the business services provider’s stock worth $68,000 after acquiring an additional 266 shares during the last quarter. Valeo Financial Advisors LLC increased its holdings in Copart by 4.6% in the 4th quarter. Valeo Financial Advisors LLC now owns 6,395 shares of the business services provider’s stock worth $250,000 after purchasing an additional 282 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in Copart by 11.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,793 shares of the business services provider’s stock worth $109,000 after purchasing an additional 288 shares in the last quarter. Finally, American Trust raised its position in Copart by 2.1% in the third quarter. American Trust now owns 14,230 shares of the business services provider’s stock valued at $640,000 after purchasing an additional 295 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

NASDAQ CPRT opened at $33.72 on Monday. The firm has a market capitalization of $31.22 billion, a PE ratio of 20.94, a price-to-earnings-growth ratio of 1.62 and a beta of 1.03. The business’s 50-day moving average price is $30.07 and its two-hundred day moving average price is $32.23. Copart, Inc. has a 12 month low of $26.81 and a 12 month high of $49.16.

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 27,745 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total value of $845,945.05. Following the sale, the chief executive officer directly owned 99,641 shares in the company, valued at $3,038,054.09. This represents a 21.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 9.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CPRT. Barclays set a $25.00 price target on Copart and gave the company an “underweight” rating in a research note on Wednesday, August 26th. Stephens reaffirmed an “equal weight” rating and issued a $35.00 price objective on shares of Copart in a research note on Thursday, August 20th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Copart in a report on Wednesday, July 29th. Jefferies Financial Group set a $45.00 target price on shares of Copart in a research report on Friday, May 22nd. Finally, Zacks Research lowered shares of Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $38.83.

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.