Copart, Inc. $CPRT Shares Sold by Phoenix Financial Ltd.

Phoenix Financial Ltd. cut its stake in Copart, Inc. (NASDAQ:CPRT) by 33.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,526 shares of the business services provider’s stock after selling 7,308 shares during the period. Phoenix Financial Ltd.’s holdings in Copart were worth $712,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. GC Wealth Management RIA LLC acquired a new stake in Copart in the second quarter worth $219,000. China Universal Asset Management Co. Ltd. increased its position in Copart by 52.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 23,862 shares of the business services provider’s stock worth $1,350,000 after buying an additional 8,181 shares during the period. Private Trust Co. NA increased its holdings in shares of Copart by 16.5% during the first quarter. Private Trust Co. NA now owns 4,142 shares of the business services provider’s stock valued at $234,000 after purchasing an additional 586 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Copart by 15.9% during the first quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider’s stock valued at $868,417,000 after purchasing an additional 2,106,656 shares during the period. Finally, Diversify Advisory Services LLC increased its holdings in shares of Copart by 151.5% during the first quarter. Diversify Advisory Services LLC now owns 14,846 shares of the business services provider’s stock valued at $898,000 after purchasing an additional 8,943 shares during the period. 85.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on CPRT. Stephens lowered their price target on Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a report on Friday, September 5th. Robert W. Baird lowered their price target on Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, July 17th. HSBC set a $62.00 price target on Copart and gave the company a “buy” rating in a report on Thursday, September 4th. Hsbc Global Res raised Copart from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 4th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Copart presently has a consensus rating of “Moderate Buy” and an average target price of $54.50.

Copart Trading Down 1.8%

Shares of CPRT opened at $44.93 on Thursday. The business’s 50-day moving average price is $46.48 and its 200 day moving average price is $50.66. The stock has a market capitalization of $43.48 billion, a P/E ratio of 28.08 and a beta of 1.03. Copart, Inc. has a 1-year low of $43.32 and a 1-year high of $64.38.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Copart had a return on equity of 18.17% and a net margin of 33.41%.Copart’s revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted $0.33 EPS. On average, research analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 24,283 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the completion of the sale, the chief executive officer directly owned 31,332 shares in the company, valued at approximately $1,403,360.28. This trade represents a 43.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Thomas N. Tryforos sold 228,840 shares of Copart stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $47.54, for a total value of $10,879,053.60. The disclosure for this sale can be found here. Company insiders own 9.68% of the company’s stock.

Copart Profile

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.