Lombard Odier Asset Management Europe Ltd Acquires New Position in Copart, Inc. $CPRT

Lombard Odier Asset Management Europe Ltd purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 104,309 shares of the business services provider’s stock, valued at approximately $2,940,000.

Several other hedge funds have also modified their holdings of CPRT. Reflection Asset Management acquired a new position in shares of Copart in the 4th quarter valued at $34,000. C M Bidwell & Associates Ltd. acquired a new position in shares of Copart during the second quarter worth about $25,000. Cache Advisors LLC purchased a new stake in shares of Copart during the 1st quarter valued at about $31,000. Versant Capital Management Inc raised its holdings in shares of Copart by 110.9% during the 2nd quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock valued at $27,000 after buying an additional 498 shares during the period. Finally, Triumph Capital Management lifted its position in Copart by 424.2% during the 4th quarter. Triumph Capital Management now owns 1,017 shares of the business services provider’s stock worth $40,000 after acquiring an additional 823 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Zacks Research downgraded shares of Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Barclays set a $25.00 price objective on Copart and gave the stock an “underweight” rating in a report on Wednesday. Jefferies Financial Group set a $45.00 target price on shares of Copart in a research note on Friday, May 22nd. Weiss Ratings restated a “sell (d+)” rating on shares of Copart in a research note on Wednesday, July 29th. Finally, Stephens reissued an “equal weight” rating and issued a $35.00 target price on shares of Copart in a report on Thursday, August 20th. Three equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Copart currently has a consensus rating of “Hold” and a consensus price target of $41.50.

Copart Stock Performance

Shares of CPRT stock opened at $32.99 on Friday. The stock has a fifty day moving average of $29.77 and a two-hundred day moving average of $32.47. The firm has a market capitalization of $30.54 billion, a PE ratio of 20.49 and a beta of 1.01. Copart, Inc. has a 1 year low of $26.81 and a 1 year high of $50.11.

Insider Activity

In related 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 transaction of $845,945.05. Following the transaction, the chief executive officer owned 99,641 shares in the company, valued at $3,038,054.09. This trade 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 is available through the SEC website. 9.60% of the stock is owned by company insiders.

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.