2,759,193 Shares in Copart, Inc. $CPRT Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company bought a new position in Copart, Inc. (NASDAQ:CPRT) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 2,759,193 shares of the business services provider’s stock, valued at approximately $77,781,000. The Manufacturers Life Insurance Company owned approximately 0.30% of Copart at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CPRT. Quadrant Capital Group LLC increased its holdings in shares of Copart by 1.3% in the third quarter. Quadrant Capital Group LLC now owns 20,693 shares of the business services provider’s stock worth $931,000 after purchasing an additional 264 shares during the period. Geneos Wealth Management Inc. boosted its stake in Copart by 23.8% during the second quarter. Geneos Wealth Management Inc. now owns 1,384 shares of the business services provider’s stock valued at $68,000 after buying an additional 266 shares during the period. Valeo Financial Advisors LLC grew its position in Copart by 4.6% during the fourth quarter. Valeo Financial Advisors LLC now owns 6,395 shares of the business services provider’s stock worth $250,000 after buying an additional 282 shares in the last quarter. Parkside Financial Bank & Trust grew its position 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 buying an additional 288 shares in the last quarter. Finally, American Trust increased its stake in 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 acquiring an additional 295 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Copart

In related news, CEO Jeffrey Liaw sold 27,745 shares of the business’s 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 owned 99,641 shares in the company, valued at $3,038,054.09. The trade was a 21.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 9.60% of the company’s stock.

Copart Stock Up 0.2%

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

Copart Company 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.