5,924,075 Shares in Copart, Inc. $CPRT Bought by Legal & General Group Plc

Legal & General Group Plc acquired a new stake in Copart, Inc. (NASDAQ:CPRT) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 5,924,075 shares of the business services provider’s stock, valued at approximately $167,000,000.

Other institutional investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company acquired a new stake in shares of Copart in the second quarter valued at about $77,781,000. Fiduciary Financial Advisors acquired a new stake in Copart in the second quarter valued at $49,000. Cibc World Market Inc. bought a new position in shares of Copart during the second quarter worth about $1,112,000. OMERS ADMINISTRATION Corp acquired a new position in shares of Copart in the 2nd quarter worth approximately $1,437,000. Finally, Osmosis Investment Management UK Ltd acquired a new position in Copart in the second quarter worth $673,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Price Performance

Copart stock opened at $32.67 on Thursday. The company has a market capitalization of $30.25 billion, a price-to-earnings ratio of 20.29 and a beta of 1.01. Copart, Inc. has a one year low of $26.81 and a one year high of $50.11. The company’s fifty day moving average price is $29.67 and its two-hundred day moving average price is $32.52.

Analyst Ratings Changes

Several research firms have recently commented on CPRT. Freedom Capital raised Copart to a “strong-buy” rating in a report on Friday, June 26th. Stephens reiterated an “equal weight” rating and issued a $35.00 price target on shares of Copart in a research report on Thursday, August 20th. Zacks Research downgraded Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Barclays set a $25.00 target price on shares of Copart and gave the stock an “underweight” rating in a research report on Wednesday. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Copart in a research report on Wednesday, July 29th. Three investment 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, Copart currently has an average rating of “Hold” and a consensus price target of $41.50.

Insiders Place Their Bets

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 directly owned 99,641 shares in the company, valued at approximately $3,038,054.09. The trade was a 21.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 9.60% of the company’s stock.

About Copart

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.