Copart, Inc. $CPRT Shares Bought by Saudi Central Bank

Saudi Central Bank raised its position in shares of Copart, Inc. (NASDAQ:CPRT) by 83.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,374 shares of the business services provider’s stock after buying an additional 28,430 shares during the period. Saudi Central Bank’s holdings in Copart were worth $1,758,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Janney Montgomery Scott LLC grew its position in shares of Copart by 14.0% during the first quarter. Janney Montgomery Scott LLC now owns 333,624 shares of the business services provider’s stock worth $11,076,000 after buying an additional 41,060 shares in the last quarter. Handelsbanken Fonder AB boosted its position in shares of Copart by 6.4% during the 2nd quarter. Handelsbanken Fonder AB now owns 578,452 shares of the business services provider’s stock worth $16,307,000 after acquiring an additional 34,855 shares in the last quarter. Focus Partners Advisor Solutions LLC purchased a new position in shares of Copart in the 2nd quarter valued at about $1,298,000. Mill Capital Management LLC purchased a new position in shares of Copart in the 2nd quarter valued at about $12,711,000. Finally, Barbara Oil Co. acquired a new stake in shares of Copart during the 2nd quarter worth about $1,585,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

CPRT has been the subject of a number of research analyst reports. Barclays set a $25.00 price target on Copart and gave the company an “underweight” rating in a report on Wednesday, August 26th. JPMorgan Chase & Co. raised shares of Copart from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $32.00 to $40.00 in a report on Thursday, September 3rd. Stephens restated an “equal weight” rating and set a $35.00 price objective on shares of Copart in a research report on Thursday, August 20th. Weiss Ratings restated a “sell (d+)” rating on shares of Copart in a report on Wednesday, July 29th. Finally, Jefferies Financial Group set a $45.00 target price on shares of Copart in a research report on Friday, May 22nd. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $38.83.

Copart Stock Down 3.3%

NASDAQ:CPRT opened at $32.60 on Wednesday. The company has a market capitalization of $30.18 billion, a PE ratio of 20.25, a P/E/G ratio of 1.62 and a beta of 1.03. Copart, Inc. has a 52-week low of $26.81 and a 52-week high of $49.11. The stock’s 50 day moving average price is $30.27 and its 200 day moving average price is $32.16.

Insider Buying and Selling at Copart

In other 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 transaction of $845,945.05. Following the transaction, the chief executive officer directly owned 99,641 shares in the company, valued at approximately $3,038,054.09. This trade represents a 21.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 9.60% of the company’s stock.

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.