Equitable Holdings Inc. Invests $536,000 in Copart, Inc. $CPRT

Equitable Holdings Inc. acquired a new position in Copart, Inc. (NASDAQ:CPRT) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 19,031 shares of the business services provider’s stock, valued at approximately $536,000.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in Copart in the 2nd quarter worth about $1,908,980,000. Bank of New York Mellon Corp bought a new stake in shares of Copart during the second quarter valued at approximately $488,663,000. Deutsche Bank AG acquired a new position in shares of Copart during the second quarter worth approximately $436,413,000. Norges Bank acquired a new position in shares of Copart during the fourth quarter worth approximately $569,569,000. Finally, Bank of America Corp DE bought a new position in Copart in the 2nd quarter worth approximately $191,347,000. 85.78% of the stock is currently owned by institutional investors.

Copart Price Performance

Copart stock opened at $32.99 on Monday. Copart, Inc. has a 12-month low of $26.81 and a 12-month high of $50.11. The stock has a market capitalization of $30.54 billion, a PE ratio of 20.49 and a beta of 1.01. The firm has a 50 day simple moving average of $29.77 and a 200-day simple moving average of $32.41.

Analyst Ratings Changes

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

Insiders Place Their Bets

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

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.