Canada Pension Plan Investment Board Invests $45.32 Million in Copart, Inc. $CPRT

Canada Pension Plan Investment Board purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,607,595 shares of the business services provider’s stock, valued at approximately $45,318,000.

Other hedge funds have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its stake in Copart by 14.0% in the first quarter. Janney Montgomery Scott LLC now owns 333,624 shares of the business services provider’s stock valued at $11,076,000 after buying an additional 41,060 shares in the last quarter. Handelsbanken Fonder AB raised its stake in Copart by 6.4% during the second quarter. Handelsbanken Fonder AB now owns 578,452 shares of the business services provider’s stock worth $16,307,000 after acquiring an additional 34,855 shares in the last quarter. Mill Capital Management LLC bought a new position in shares of Copart in the second quarter worth about $12,711,000. Focus Partners Advisor Solutions LLC bought a new position in shares of Copart in the second quarter worth about $1,298,000. Finally, Barbara Oil Co. acquired a new stake in shares of Copart in the 2nd quarter valued at approximately $1,585,000. 85.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on CPRT. Zacks Research lowered shares of Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. Jefferies Financial Group set a $45.00 target price on shares of Copart in a research report on Friday, May 22nd. Freedom Capital upgraded shares of Copart to a “strong-buy” rating in a report on Friday, June 26th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Copart in a research note on Wednesday, July 29th. Finally, Stephens reissued an “equal weight” rating and set a $35.00 price objective on shares of Copart in a report on Thursday, August 20th. 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 given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $41.50.

Copart Price Performance

Copart stock opened at $32.76 on Friday. The business has a 50 day moving average of $29.72 and a 200-day moving average of $32.47. The company has a market capitalization of $30.33 billion, a P/E ratio of 20.35 and a beta of 1.01. Copart, Inc. has a 1 year low of $26.81 and a 1 year high of $50.11.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 99,641 shares in the company, valued at approximately $3,038,054.09. This represents a 21.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 9.60% of the stock is owned by insiders.

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.