Quantitative Investment Management LLC Makes New $1.12 Million Investment in Copart, Inc. $CPRT

Quantitative Investment Management LLC acquired a new stake in Copart, Inc. (NASDAQ:CPRT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 39,832 shares of the business services provider’s stock, valued at approximately $1,122,000.

Several other large investors have also made changes to their positions in CPRT. Reflection Asset Management purchased a new position in shares of Copart during the 4th quarter valued at approximately $34,000. C M Bidwell & Associates Ltd. purchased a new stake in Copart in the 2nd quarter worth $25,000. Cache Advisors LLC purchased a new stake in Copart in the 1st quarter worth $31,000. Versant Capital Management Inc raised its position in Copart by 110.9% during the second quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock worth $27,000 after acquiring an additional 498 shares during the period. Finally, Triumph Capital Management raised its position in Copart by 424.2% during the fourth quarter. Triumph Capital Management now owns 1,017 shares of the business services provider’s stock worth $40,000 after acquiring an additional 823 shares during the period. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CPRT. 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 target on shares of Copart and gave the stock an “underweight” rating in a research report on Wednesday, August 26th. 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 price objective on Copart in a report on Friday, May 22nd. Finally, Freedom Capital raised 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 issued a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $41.50.

Copart Stock Performance

Shares of Copart stock opened at $32.99 on Tuesday. Copart, Inc. has a one year low of $26.81 and a one year high of $50.11. The company has a market cap of $30.54 billion, a price-to-earnings ratio of 20.49 and a beta of 1.01. The business’s 50 day moving average price is $29.84 and its 200 day moving average price is $32.36.

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.