London Co. of Virginia cut its stake in Copart, Inc. (NASDAQ:CPRT – Free Report) by 6.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,007,359 shares of the business services provider’s stock after selling 213,924 shares during the period. London Co. of Virginia’s holdings in Copart were worth $117,738,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of CPRT. Norges Bank bought a new position in shares of Copart in the 4th quarter valued at $569,569,000. Capital World Investors increased its stake in shares of Copart by 25.1% in the 4th quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock valued at $1,085,588,000 after purchasing an additional 5,555,101 shares during the last quarter. Capital International Investors bought a new position in shares of Copart in the 4th quarter valued at $195,637,000. Deutsche Bank AG increased its stake in shares of Copart by 94.0% in the 4th quarter. Deutsche Bank AG now owns 9,955,661 shares of the business services provider’s stock valued at $389,764,000 after purchasing an additional 4,823,111 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Copart by 21.7% in the 4th 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.
Analyst Ratings Changes
Several brokerages have recently issued reports on CPRT. Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Barclays reiterated an “underweight” rating and issued a $32.00 price target (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. Robert W. Baird set a $48.00 price target on Copart and gave the company an “outperform” rating in a research note on Friday, February 20th. Weiss Ratings lowered Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Finally, Jefferies Financial Group set a $45.00 price target on Copart in a research note on Friday, May 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Copart currently has a consensus rating of “Hold” and an average price target of $44.50.
Insider Buying and Selling
In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of Copart stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the transaction, the chief executive officer directly owned 79,532 shares of the company’s stock, valued at approximately $2,638,871.76. The trade was a 24.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.60% of the company’s stock.
Copart Stock Up 1.5%
Shares of CPRT stock opened at $30.74 on Wednesday. The firm has a market capitalization of $28.46 billion, a P/E ratio of 19.09 and a beta of 1.00. Copart, Inc. has a twelve month low of $29.97 and a twelve month high of $50.11. The stock’s fifty day simple moving average is $32.74 and its 200 day simple moving average is $36.06.
Copart (NASDAQ:CPRT – Get Free Report) last issued its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.19 billion. Copart had a return on equity of 16.63% and a net margin of 33.48%.Copart’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS. As a group, equities research analysts expect that Copart, Inc. will post 1.58 EPS for the current fiscal year.
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.
Read More
- Five stocks we like better than Copart
- Gravity Check: Houston, SpaceX Has a Valuation Problem
- Strategy’s Bitcoin Rally Has a Hidden Engine
- Okta’s AI Moment May Be Bigger Than Investors Realize
- 3 Rate-Ready Stocks for the New Fed Chair’s First Big Test
Want to see what other hedge funds are holding CPRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Copart, Inc. (NASDAQ:CPRT – Free Report).
Receive News & Ratings for Copart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Copart and related companies with MarketBeat.com's FREE daily email newsletter.
