Copart, Inc. $CPRT Shares Sold by Strive Financial Group LLC

Strive Financial Group LLC reduced its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 79.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,644 shares of the business services provider’s stock after selling 29,499 shares during the period. Strive Financial Group LLC’s holdings in Copart were worth $215,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC lifted its holdings 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 buying an additional 6,817 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Copart by 365.8% in the 1st 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 stake in shares of Copart during the 2nd quarter valued at approximately $2,677,000. Sei Investments Co. lifted its stake in Copart by 110.0% during the second quarter. Sei Investments Co. now owns 900,330 shares of the business services provider’s stock worth $44,179,000 after purchasing an additional 471,571 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its holdings in Copart by 3.5% in 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 period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CPRT. JPMorgan Chase & Co. upgraded shares of Copart from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $32.00 to $40.00 in a research note on Thursday. Freedom Capital raised shares of Copart to a “strong-buy” rating in a report on Friday, June 26th. Stephens reaffirmed an “equal weight” rating and set a $35.00 price objective on shares of Copart in a research report on Thursday, August 20th. Zacks Research cut shares of Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. Finally, Jefferies Financial Group set a $45.00 target price on Copart in a research note on Friday, May 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Copart currently has a consensus rating of “Hold” and a consensus price target of $38.83.

Copart Trading Up 0.4%

NASDAQ CPRT opened at $33.72 on Friday. The company has a 50-day moving average price of $30.07 and a two-hundred day moving average price of $32.26. The stock has a market cap of $31.22 billion, a price-to-earnings ratio of 20.94, a price-to-earnings-growth ratio of 2.03 and a beta of 1.03. Copart, Inc. has a 52 week low of $26.81 and a 52 week high of $49.16.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total transaction of $845,945.05. Following the sale, the chief executive officer owned 99,641 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this hyperlink. 9.60% of the stock is currently owned by corporate 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.