Jefferies Financial Group Inc. Makes New Investment in Copart, Inc. $CPRT

Jefferies Financial Group Inc. purchased a new stake in shares of Copart, Inc. (NASDAQ:CPRT) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 21,669 shares of the business services provider’s stock, valued at approximately $611,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of Copart in the 2nd quarter worth approximately $1,908,980,000. Bank of New York Mellon Corp bought a new stake in Copart during the second quarter valued at approximately $488,663,000. Deutsche Bank AG bought a new stake in Copart during the second quarter valued at approximately $436,413,000. Norges Bank purchased a new stake in Copart during the fourth quarter valued at approximately $569,569,000. Finally, Bank of America Corp DE purchased a new stake in Copart during the second quarter valued at approximately $191,347,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Activity

In other news, CEO Jeffrey Liaw sold 27,745 shares of the stock in a transaction 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 sale, the chief executive officer directly owned 99,641 shares of the company’s stock, valued at $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 is available at this hyperlink. 9.60% of the stock is currently owned by company insiders.

Copart Stock Performance

Copart stock opened at $32.99 on Tuesday. Copart, Inc. has a 12-month low of $26.81 and a 12-month high of $50.11. The firm has a market capitalization of $30.54 billion, a price-to-earnings ratio of 20.49 and a beta of 1.01. The firm has a 50 day moving average of $29.84 and a 200 day moving average of $32.36.

Wall Street Analyst Weigh In

CPRT has been the topic of several analyst reports. Jefferies Financial Group set a $45.00 price target on shares of Copart in a research note on Friday, May 22nd. Weiss Ratings restated a “sell (d+)” rating on shares of Copart in a research note on Wednesday, July 29th. Stephens restated an “equal weight” rating and issued a $35.00 price objective on shares of Copart in a research note on Thursday, August 20th. Freedom Capital raised Copart to a “strong-buy” rating in a report on Friday, June 26th. Finally, Barclays set a $25.00 target price on Copart and gave the company an “underweight” rating in a research report on Wednesday, August 26th. Three research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $41.50.

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.