Copart, Inc. $CPRT Shares Sold by Giverny Capital Inc.

Giverny Capital Inc. lowered its position in Copart, Inc. (NASDAQ:CPRT) by 69.9% during the second quarter, HoldingsChannel reports. The firm owned 8,274 shares of the business services provider’s stock after selling 19,210 shares during the period. Giverny Capital Inc.’s holdings in Copart were worth $233,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. C M Bidwell & Associates Ltd. purchased a new stake in Copart during the 2nd quarter valued at about $25,000. Versant Capital Management Inc raised its holdings in Copart by 110.9% in the 2nd quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 498 shares during the last quarter. Cache Advisors LLC purchased a new position in Copart in the 1st quarter worth approximately $31,000. Compass Financial Management LLC purchased a new position in Copart in the 2nd quarter worth approximately $33,000. Finally, Reflection Asset Management acquired a new position in shares of Copart during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Performance

Shares of CPRT opened at $33.72 on Monday. The company’s 50-day moving average price is $30.07 and its 200 day moving average price is $32.23. Copart, Inc. has a 12-month low of $26.81 and a 12-month high of $49.16. The firm has a market cap of $31.22 billion, a P/E ratio of 20.94, a price-to-earnings-growth ratio of 1.62 and a beta of 1.03.

Insider Buying and Selling at Copart

In other 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 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 hyperlink. 9.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CPRT has been the subject of a number of analyst reports. Zacks Research lowered Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Jefferies Financial Group set a $45.00 price objective on Copart in a research report on Friday, May 22nd. Barclays set a $25.00 price objective on Copart and gave the stock an “underweight” rating in a research note on Wednesday, August 26th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Copart in a research note on Wednesday, July 29th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $35.00 target price on shares of Copart in a research note on Thursday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Copart currently has an average rating of “Hold” and an average price target of $38.83.

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.