Legal & General Group Plc Takes Position in Copart, Inc. $CPRT

Legal & General Group Plc purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,924,075 shares of the business services provider’s stock, valued at approximately $167,000,000. Legal & General Group Plc owned approximately 0.64% of Copart at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of CPRT. Quadrant Capital Group LLC grew its holdings in Copart by 1.3% in the third 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 during the last quarter. Geneos Wealth Management Inc. increased its position 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 in the last quarter. Valeo Financial Advisors LLC raised its stake in shares of Copart by 4.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 6,395 shares of the business services provider’s stock worth $250,000 after buying an additional 282 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in shares of 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 buying an additional 288 shares in the last quarter. Finally, American Trust boosted its position in shares of Copart by 2.1% in the 3rd quarter. American Trust now owns 14,230 shares of the business services provider’s stock worth $640,000 after buying an additional 295 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Copart in a report on Wednesday, July 29th. Jefferies Financial Group set a $45.00 price target on shares of Copart in a report on Friday, May 22nd. 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 stock an “underweight” rating in a research note on Wednesday. Finally, 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. Three equities research 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $41.50.

Insider Activity

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 transaction of $845,945.05. Following the sale, the chief executive officer 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 9.60% of the company’s stock.

Copart Price Performance

Copart stock opened at $32.67 on Thursday. Copart, Inc. has a 12-month low of $26.81 and a 12-month high of $50.11. The stock has a market capitalization of $30.25 billion, a P/E ratio of 20.29 and a beta of 1.01. The firm’s 50-day moving average is $29.67 and its two-hundred day moving average is $32.52.

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.