Norges Bank purchased a new position in Copart, Inc. (NASDAQ:CPRT – Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 14,548,385 shares of the business services provider’s stock, valued at approximately $569,569,000. Norges Bank owned about 1.50% of Copart as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Lodestone Wealth Management LLC bought a new stake in Copart in the 4th quarter worth $25,000. LRI Investments LLC grew its holdings in Copart by 125.2% in the 3rd quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock worth $29,000 after acquiring an additional 363 shares during the last quarter. Cornerstone Planning Group LLC grew its holdings in Copart by 54.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock worth $31,000 after acquiring an additional 256 shares during the last quarter. Aventura Private Wealth LLC bought a new stake in Copart in the 4th quarter worth $33,000. Finally, Board of the Pension Protection Fund bought a new stake in Copart in the 4th quarter worth $35,000. Institutional investors own 85.78% of the company’s stock.
Insider Buying and Selling
In related news, CEO Jeffrey Liaw sold 26,213 shares of the business’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total transaction of $869,747.34. Following the sale, the chief executive officer owned 79,532 shares of the company’s stock, valued at $2,638,871.76. The trade was a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 9.60% of the stock is owned by insiders.
Copart Price Performance
Copart (NASDAQ:CPRT – Get Free Report) last announced its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.02. Copart had a net margin of 33.48% and a return on equity of 16.63%. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the company earned $0.42 earnings per share. Copart’s quarterly revenue was up 2.1% on a year-over-year basis. Research analysts anticipate that Copart, Inc. will post 1.58 earnings per share for the current year.
Analyst Ratings Changes
A number of brokerages have issued reports on CPRT. Robert W. Baird set a $48.00 price target on shares of Copart and gave the stock an “outperform” rating in a report on Friday, February 20th. Jefferies Financial Group set a $45.00 price target on shares of Copart in a research report on Friday, May 22nd. Zacks Research upgraded shares of Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Barclays reiterated an “underweight” rating and set a $32.00 price target (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Copart presently has an average rating of “Hold” and a consensus price target of $44.50.
Check Out Our Latest Research Report on CPRT
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.
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