Elevation Point Wealth Partners LLC Invests $620,000 in Copart, Inc. $CPRT

Elevation Point Wealth Partners LLC bought a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 21,995 shares of the business services provider’s stock, valued at approximately $620,000.

Several other large investors have also added to or reduced their stakes in CPRT. Quadrant Capital Group LLC grew its position in shares of Copart by 1.3% during 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 during the period. Geneos Wealth Management Inc. lifted its position in Copart by 23.8% in the 2nd 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 position in shares of Copart by 4.6% during the fourth quarter. Valeo Financial Advisors LLC now owns 6,395 shares of the business services provider’s stock valued at $250,000 after buying an additional 282 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in Copart by 11.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,793 shares of the business services provider’s stock worth $109,000 after purchasing an additional 288 shares during the last quarter. Finally, American Trust boosted its stake in shares of Copart by 2.1% in the 3rd quarter. American Trust now owns 14,230 shares of the business services provider’s stock worth $640,000 after buying an additional 295 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

CPRT has been the subject of several research reports. Stephens restated an “equal weight” rating and set a $35.00 price target on shares of Copart in a research report on Thursday, August 20th. Zacks Research downgraded Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Jefferies Financial Group set a $45.00 price target on shares of Copart in a report on Friday, May 22nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Copart in a research report on Wednesday, July 29th. Finally, Freedom Capital upgraded shares of Copart to a “strong-buy” rating in a research report on Friday, June 26th. Three equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Copart presently has a consensus rating of “Hold” and an average price target of $41.67.

Copart Stock Performance

Shares of NASDAQ:CPRT opened at $33.26 on Tuesday. The firm has a market capitalization of $30.79 billion, a PE ratio of 20.66 and a beta of 1.01. Copart, Inc. has a 52-week low of $26.81 and a 52-week high of $50.11. The firm has a fifty day moving average of $29.55 and a 200 day moving average of $32.62.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total value of $845,945.05. Following the transaction, the chief executive officer owned 99,641 shares in the company, valued at approximately $3,038,054.09. The trade was a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 9.60% of the company’s stock.

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.