Raiffeisen Bank International AG Sells 44,596 Shares of Copart, Inc. $CPRT

Raiffeisen Bank International AG trimmed its position in Copart, Inc. (NASDAQ:CPRT) by 12.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 304,614 shares of the business services provider’s stock after selling 44,596 shares during the quarter. Raiffeisen Bank International AG’s holdings in Copart were worth $8,579,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. Quadrant Capital Group LLC increased its stake in Copart by 1.3% in the 3rd quarter. Quadrant Capital Group LLC now owns 20,693 shares of the business services provider’s stock worth $931,000 after buying an additional 264 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Copart by 23.8% in the second quarter. Geneos Wealth Management Inc. now owns 1,384 shares of the business services provider’s stock valued at $68,000 after acquiring an additional 266 shares in the last quarter. Valeo Financial Advisors LLC boosted its stake in shares of Copart by 4.6% in the fourth quarter. Valeo Financial Advisors LLC now owns 6,395 shares of the business services provider’s stock worth $250,000 after acquiring an additional 282 shares during the period. Parkside Financial Bank & Trust boosted its stake in shares of Copart by 11.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,793 shares of the business services provider’s stock worth $109,000 after acquiring an additional 288 shares during the period. Finally, American Trust boosted its stake in shares of Copart by 2.1% in the third quarter. American Trust now owns 14,230 shares of the business services provider’s stock worth $640,000 after acquiring an additional 295 shares during the period. Institutional investors own 85.78% of the company’s stock.

Insider Activity

In related news, CEO Jeffrey Liaw sold 27,745 shares of the 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 transaction, the chief executive officer 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 9.60% of the company’s stock.

Copart Stock Up 4.4%

CPRT stock opened at $33.58 on Friday. Copart, Inc. has a 52 week low of $26.81 and a 52 week high of $50.11. The firm has a market capitalization of $31.09 billion, a P/E ratio of 20.86, a price-to-earnings-growth ratio of 1.94 and a beta of 1.03. The company has a fifty day simple moving average of $30.01 and a two-hundred day simple moving average of $32.25.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Barclays set a $25.00 target price on Copart and gave the company an “underweight” rating in a research note on Wednesday, August 26th. Jefferies Financial Group set a $45.00 price target on Copart in a research note on Friday, May 22nd. Deutsche Bank Aktiengesellschaft set a $40.00 price objective on shares of Copart in a report on Thursday. Stephens reiterated an “equal weight” rating and set a $35.00 price objective on shares of Copart in a research report on Thursday, August 20th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Copart in a report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $38.83.

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.