UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stake in Copart, Inc. $CPRT

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Copart, Inc. (NASDAQ:CPRT) by 2.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,866,657 shares of the business services provider’s stock after purchasing an additional 120,119 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.63% of Copart worth $165,381,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in CPRT. BlackRock Inc. purchased a new stake in Copart in the 2nd quarter valued at about $1,908,980,000. State Street Corp increased its position in shares of Copart by 1.3% during the fourth quarter. State Street Corp now owns 37,555,437 shares of the business services provider’s stock worth $1,470,295,000 after acquiring an additional 492,506 shares during the period. Capital World Investors increased its position in shares of Copart by 25.1% during the fourth quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock worth $1,085,588,000 after acquiring an additional 5,555,101 shares during the period. Geode Capital Management LLC raised its stake in shares of Copart by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 23,255,161 shares of the business services provider’s stock valued at $906,836,000 after acquiring an additional 131,703 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Copart by 21.7% during the fourth quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock valued at $860,618,000 after acquiring an additional 3,918,610 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling at Copart

In related news, CEO Jeffrey Liaw sold 27,745 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was 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 of the company’s stock, valued at $3,038,054.09. This trade represents a 21.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 9.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CPRT has been the topic of several research analyst reports. Jefferies Financial Group set a $45.00 price objective on Copart in a research note on Friday, May 22nd. Freedom Capital raised Copart to a “strong-buy” rating in a research report on Friday, June 26th. Stephens reiterated an “equal weight” rating and issued a $35.00 target price on shares of Copart in a report on Thursday, August 20th. Zacks Research downgraded Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Copart in a research note on Wednesday, July 29th. Three analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $41.50.

Copart Stock Down 1.6%

Shares of CPRT stock opened at $32.47 on Wednesday. The firm has a market cap of $30.06 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 1.99 and a beta of 1.03. The company’s 50 day moving average is $29.90 and its 200 day moving average is $32.31. Copart, Inc. has a 52-week low of $26.81 and a 52-week high of $50.11.

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.