Elevation Point Wealth Partners LLC Acquires Shares of 21,995 Copart, Inc. $CPRT

Elevation Point Wealth Partners LLC acquired a new stake in Copart, Inc. (NASDAQ:CPRT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,995 shares of the business services provider’s stock, valued at approximately $620,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. bought a new position in Copart in the 2nd quarter valued at about $1,908,980,000. State Street Corp boosted its holdings in shares of Copart by 1.3% during the fourth quarter. State Street Corp now owns 37,555,437 shares of the business services provider’s stock worth $1,470,295,000 after acquiring an additional 492,506 shares during the period. Capital World Investors boosted its holdings in shares of Copart by 25.1% during the fourth quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock worth $1,085,588,000 after acquiring an additional 5,555,101 shares during the period. Geode Capital Management LLC grew its position in shares of Copart by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 23,255,161 shares of the business services provider’s stock valued at $906,836,000 after purchasing an additional 131,703 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Copart by 21.7% in the fourth quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock valued at $860,618,000 after purchasing an additional 3,918,610 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

CPRT stock opened at $33.26 on Tuesday. The company has a market capitalization of $30.79 billion, a P/E ratio of 20.66 and a beta of 1.01. Copart, Inc. has a 52-week low of $26.81 and a 52-week high of $50.11. The company has a fifty day moving average price of $29.55 and a 200-day moving average price of $32.62.

Insider Activity

In other news, CEO Jeffrey Liaw sold 27,745 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total transaction of $845,945.05. Following the completion of the transaction, the chief executive officer directly 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 sale 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.

Analyst Ratings Changes

Several analysts recently weighed in on CPRT shares. Zacks Research cut Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. Stephens reaffirmed an “equal weight” rating and issued a $35.00 price objective on shares of Copart in a report on Thursday, August 20th. Freedom Capital upgraded Copart to a “strong-buy” rating in a research report on Friday, June 26th. Weiss Ratings reissued a “sell (d+)” rating on shares of Copart in a report on Wednesday, July 29th. Finally, Barclays set a $26.00 target price on shares of Copart and gave the company an “underweight” rating in a research report on Tuesday, July 21st. Three investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Copart has an average rating of “Hold” and a consensus price target of $41.67.

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.