Allspring Global Investments Holdings LLC Sells 1,026 Shares of Copart, Inc. $CPRT

Allspring Global Investments Holdings LLC cut its position in shares of Copart, Inc. (NASDAQ:CPRT) by 0.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 300,206 shares of the business services provider’s stock after selling 1,026 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Copart were worth $14,902,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CPRT. Cloud Capital Management LLC bought a new position in Copart during the first quarter valued at approximately $26,000. Atticus Wealth Management LLC purchased a new stake in shares of Copart in the 2nd quarter valued at $31,000. Ameritas Advisory Services LLC bought a new position in shares of Copart during the 2nd quarter valued at $31,000. Accent Capital Management LLC purchased a new position in Copart in the 1st quarter worth $36,000. Finally, GFG Capital LLC bought a new stake in Copart in the second quarter worth $37,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Transactions at Copart

In related news, Director Thomas N. Tryforos sold 228,840 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $47.54, for a total transaction of $10,879,053.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 owned 31,332 shares of the company’s stock, valued at $1,403,360.28. This trade represents a 43.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.68% of the company’s stock.

Copart Stock Performance

Shares of CPRT stock opened at $44.34 on Friday. Copart, Inc. has a fifty-two week low of $43.32 and a fifty-two week high of $64.38. The firm has a market cap of $42.91 billion, a P/E ratio of 27.71 and a beta of 1.03. The business’s 50 day moving average price is $46.61 and its 200-day moving average price is $50.89.

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

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.