Jupiter Topco LLC Buys New Holdings in Copart, Inc. $CPRT

Jupiter Topco LLC purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the second quarter, HoldingsChannel reports. The institutional investor purchased 106,735 shares of the business services provider’s stock, valued at approximately $3,011,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Janney Montgomery Scott LLC lifted its stake in Copart by 14.0% in the first quarter. Janney Montgomery Scott LLC now owns 333,624 shares of the business services provider’s stock valued at $11,076,000 after buying an additional 41,060 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Copart by 6.4% during the 2nd quarter. Handelsbanken Fonder AB now owns 578,452 shares of the business services provider’s stock worth $16,307,000 after acquiring an additional 34,855 shares during the period. Focus Partners Advisor Solutions LLC acquired a new position in Copart in the 2nd quarter valued at about $1,298,000. Mill Capital Management LLC bought a new position in Copart during the 2nd quarter worth $12,711,000. Finally, Barbara Oil Co. acquired a new stake in shares of Copart in the second quarter valued at approximately $1,585,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CPRT. Freedom Capital upgraded Copart to a “strong-buy” rating in a research note on Friday, June 26th. Weiss Ratings reissued a “sell (d+)” rating on shares of Copart in a research report on Wednesday, July 29th. Jefferies Financial Group set a $45.00 target price on shares of Copart in a research note on Friday, May 22nd. Zacks Research cut shares of Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. Finally, Stephens reiterated an “equal weight” rating and issued a $35.00 price objective on shares of Copart in a research note on Thursday, August 20th. 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $41.50.

Copart Price Performance

Shares of NASDAQ CPRT opened at $32.16 on Thursday. The stock has a market capitalization of $29.77 billion, a P/E ratio of 19.98, a PEG ratio of 1.95 and a beta of 1.03. The firm’s 50 day simple moving average is $29.94 and its two-hundred day simple moving average is $32.28. Copart, Inc. has a one year low of $26.81 and a one year high of $50.11.

Insider Transactions at Copart

In other news, CEO Jeffrey Liaw sold 27,745 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer owned 99,641 shares in the company, valued at approximately $3,038,054.09. This trade represents a 21.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.60% of the stock is currently owned by 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.