Lifetime Wealth Management P.C. Takes Position in Copart, Inc. $CPRT

Lifetime Wealth Management P.C. bought a new position in shares of Copart, Inc. (NASDAQ:CPRT) during the second quarter, Holdings Channel.com reports. The fund bought 28,000 shares of the business services provider’s stock, valued at approximately $789,000.

Other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Copart during the 2nd quarter valued at approximately $1,908,980,000. Bank of New York Mellon Corp purchased a new stake in shares of Copart during the 2nd quarter worth approximately $488,663,000. Deutsche Bank AG bought a new stake in shares of Copart in the 2nd quarter worth approximately $436,413,000. Norges Bank bought a new stake in shares of Copart in the 4th quarter worth approximately $569,569,000. Finally, Bank of America Corp DE purchased a new position in Copart in the second quarter valued at approximately $191,347,000. 85.78% of the stock is currently owned by institutional investors.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction dated 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 of the company’s stock, valued at approximately $3,038,054.09. The trade was a 21.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CPRT. Zacks Research lowered Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. Weiss Ratings restated a “sell (d+)” rating on shares of Copart in a research note on Wednesday, July 29th. Barclays set a $25.00 price target on Copart and gave the company an “underweight” rating in a research report on Wednesday. Freedom Capital upgraded Copart to a “strong-buy” rating in a research note on Friday, June 26th. Finally, Jefferies Financial Group set a $45.00 price objective on Copart in a report on Friday, May 22nd. Three analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $41.50.

Copart Price Performance

Shares of NASDAQ CPRT opened at $32.76 on Friday. Copart, Inc. has a one year low of $26.81 and a one year high of $50.11. The firm’s 50 day simple moving average is $29.72 and its two-hundred day simple moving average is $32.47. The stock has a market capitalization of $30.33 billion, a P/E ratio of 20.35 and a beta of 1.01.

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.