HighTower Advisors LLC Boosts Holdings in Copart, Inc. $CPRT

HighTower Advisors LLC grew its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 10.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,524,087 shares of the business services provider’s stock after acquiring an additional 146,237 shares during the quarter. HighTower Advisors LLC’s holdings in Copart were worth $42,964,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Quadrant Capital Group LLC raised its holdings in shares of Copart by 1.3% during the third 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 period. Geneos Wealth Management Inc. raised its stake 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 valued at $68,000 after purchasing an additional 266 shares during the period. Valeo Financial Advisors LLC raised its stake in Copart by 4.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 6,395 shares of the business services provider’s stock valued at $250,000 after purchasing an additional 282 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of Copart by 11.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,793 shares of the business services provider’s stock valued at $109,000 after purchasing an additional 288 shares in the last quarter. Finally, American Trust lifted its holdings in shares of 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 in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CPRT shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Copart in a report on Wednesday, July 29th. Freedom Capital raised Copart to a “strong-buy” rating in a research note on Friday, June 26th. 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. Barclays set a $25.00 target price on Copart and gave the company an “underweight” rating in a research note on Wednesday, August 26th. Finally, Deutsche Bank Aktiengesellschaft set a $40.00 target price on Copart in a report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Copart presently has a consensus rating of “Hold” and a consensus target price of $38.83.

Copart Price Performance

CPRT opened at $33.72 on Tuesday. Copart, Inc. has a fifty-two week low of $26.81 and a fifty-two week high of $49.16. The business has a 50-day moving average of $30.18 and a 200-day moving average of $32.20. The company 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.

Insider Buying and Selling

In related news, CEO Jeffrey Liaw sold 27,745 shares of the 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 transaction, the chief executive officer owned 99,641 shares in the company, valued at approximately $3,038,054.09. This represents a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 9.60% of the company’s stock.

About Copart

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.