Lone Peak Global Investors LLC Makes New Investment in Copart, Inc. $CPRT

Lone Peak Global Investors LLC acquired a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the 2nd quarter, Holdings Channel reports. The fund acquired 654,606 shares of the business services provider’s stock, valued at approximately $18,453,000. Copart makes up about 2.5% of Lone Peak Global Investors LLC’s portfolio, making the stock its 21st biggest holding.

Other large investors have also modified their holdings of the company. Brighton Jones LLC raised its stake in Copart by 92.1% during the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock worth $816,000 after acquiring an additional 6,817 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in Copart by 365.8% in the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock valued at $63,000 after acquiring an additional 878 shares during the last quarter. Jump Financial LLC acquired a new position in Copart in the second quarter valued at $2,677,000. Sei Investments Co. boosted its stake in Copart by 110.0% in the second quarter. Sei Investments Co. now owns 900,330 shares of the business services provider’s stock valued at $44,179,000 after acquiring an additional 471,571 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Copart by 3.5% during the second quarter. Treasurer of the State of North Carolina now owns 413,083 shares of the business services provider’s stock worth $20,270,000 after purchasing an additional 13,860 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analyst Ratings Changes

CPRT has been the topic of a number of research analyst reports. Jefferies Financial Group set a $45.00 target price on Copart in a research report on Friday, May 22nd. Zacks Research downgraded Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Stephens reaffirmed an “equal weight” rating and set a $35.00 price target on shares of Copart in a research report on Thursday, August 20th. Freedom Capital raised Copart to a “strong-buy” rating in a research report on Friday, June 26th. Finally, Barclays set a $25.00 price objective on Copart and gave the company an “underweight” rating in a research note on Wednesday, August 26th. Three investment 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $41.50.

Copart Stock Performance

Shares of NASDAQ:CPRT opened at $32.47 on Wednesday. The company has a 50-day simple moving average of $29.90 and a 200-day simple moving average of $32.31. Copart, Inc. has a one year low of $26.81 and a one year high of $50.11. The stock has a market capitalization of $30.06 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 1.99 and a beta of 1.03.

Insider Transactions at Copart

In related news, CEO Jeffrey Liaw sold 27,745 shares of the business’s 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 $3,038,054.09. The trade was a 21.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 9.60% of the stock is owned by company insiders.

Copart 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.