Copart, Inc. $CPRT Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP grew its holdings in Copart, Inc. (NASDAQ:CPRT) by 7.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,799,600 shares of the business services provider’s stock after buying an additional 255,157 shares during the quarter. Wellington Management Group LLP’s holdings in Copart were worth $107,111,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Copart during the 2nd quarter valued at approximately $1,908,980,000. State Street Corp increased its holdings in Copart by 1.3% in the 4th 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 in the last quarter. Capital World Investors raised its position in 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 position in 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 worth $906,836,000 after acquiring an additional 131,703 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in 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 purchasing an additional 3,918,610 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. 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 company an “underweight” rating in a research note 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 research note on Friday, May 22nd. Finally, Freedom Capital raised Copart to a “strong-buy” rating in a report on Friday, June 26th. Three analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Copart presently has an average rating of “Hold” and a consensus target price of $41.50.

Copart Stock Down 1.6%

Shares of NASDAQ:CPRT opened at $32.47 on Wednesday. The business has a fifty day moving average of $29.90 and a two-hundred day moving average of $32.31. The stock has a market cap of $30.06 billion, a P/E ratio of 20.17, a PEG ratio of 1.99 and a beta of 1.03. Copart, Inc. has a 52-week low of $26.81 and a 52-week high of $50.11.

Insider Activity

In related news, CEO Jeffrey Liaw sold 27,745 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total value of $845,945.05. Following the completion of the sale, the chief executive officer owned 99,641 shares of the company’s stock, valued at approximately $3,038,054.09. This represents a 21.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 9.60% of the company’s stock.

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.