Northwestern Mutual Wealth Management Co. Acquires New Shares in Copart, Inc. $CPRT

Northwestern Mutual Wealth Management Co. acquired a new position in Copart, Inc. (NASDAQ:CPRT) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 31,567 shares of the business services provider’s stock, valued at approximately $890,000.

Several other hedge funds have also recently bought and sold shares of the business. Reflection Asset Management bought a new position in shares of Copart in the 4th quarter valued at approximately $34,000. C M Bidwell & Associates Ltd. bought a new stake in Copart during the second quarter worth approximately $25,000. Cache Advisors LLC bought a new stake in Copart during the first quarter worth approximately $31,000. Versant Capital Management Inc grew its holdings in Copart by 110.9% during the second quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 498 shares during the last quarter. Finally, Triumph Capital Management grew its holdings in Copart by 424.2% during the fourth quarter. Triumph Capital Management now owns 1,017 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 823 shares during the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CPRT. Freedom Capital raised shares of Copart to a “strong-buy” rating in a research report on Friday, June 26th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Copart in a report on Wednesday, July 29th. Barclays set a $26.00 target price on shares of Copart and gave the company an “underweight” rating in a research note on Tuesday, July 21st. Zacks Research downgraded shares of Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. Finally, Stephens reissued an “equal weight” rating and set a $35.00 target price on shares of Copart in a research report on Thursday, August 20th. Three analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Copart currently has an average rating of “Hold” and a consensus target price of $41.67.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 27,745 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was 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 approximately $3,038,054.09. This represents a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.60% of the stock is currently owned by company insiders.

Copart Stock Up 0.2%

CPRT opened at $33.33 on Wednesday. The firm has a market capitalization of $30.86 billion, a P/E ratio of 20.70 and a beta of 1.01. The stock’s 50 day moving average price is $29.61 and its two-hundred day moving average price is $32.57. Copart, Inc. has a 12-month low of $26.81 and a 12-month high of $50.11.

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.