Massachusetts Financial Services Co. MA Sells 3,270,988 Shares of Copart, Inc. $CPRT

Massachusetts Financial Services Co. MA trimmed its stake in Copart, Inc. (NASDAQ:CPRT) by 80.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 809,128 shares of the business services provider’s stock after selling 3,270,988 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Copart were worth $36,386,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Tripletail Wealth Management LLC acquired a new stake in Copart during the third quarter worth about $27,000. Ameritas Advisory Services LLC bought a new stake in shares of Copart in the 2nd quarter worth approximately $31,000. Creekmur Asset Management LLC grew its holdings in shares of Copart by 1,063.0% during the 2nd quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock worth $31,000 after purchasing an additional 574 shares in the last quarter. Bank of Jackson Hole Trust grew its holdings in shares of Copart by 83.8% during the 2nd quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock worth $36,000 after purchasing an additional 335 shares in the last quarter. Finally, GFG Capital LLC bought a new stake in shares of Copart during the second quarter valued at approximately $37,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Trading Up 1.5%

Shares of Copart stock opened at $41.31 on Thursday. The stock has a market capitalization of $39.99 billion, a price-to-earnings ratio of 25.19 and a beta of 1.10. The firm’s 50-day moving average price is $39.53 and its two-hundred day moving average price is $43.67. Copart, Inc. has a 1-year low of $37.41 and a 1-year high of $63.85.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, November 20th. The business services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.18 billion. Copart had a return on equity of 17.78% and a net margin of 34.24%.Copart’s revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.37 EPS. As a group, equities research analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CPRT shares. CJS Securities upgraded shares of Copart to a “strong-buy” rating in a research note on Thursday, December 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a report on Wednesday, October 8th. JPMorgan Chase & Co. lowered their target price on shares of Copart from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday, November 24th. Robert W. Baird dropped their price target on shares of Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a research report on Friday, November 21st. Finally, Barclays reaffirmed an “underweight” rating and set a $33.00 price objective (up from $32.00) on shares of Copart in a report on Friday, November 21st. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Copart has a consensus rating of “Moderate Buy” and a consensus price target of $47.60.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of the business’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total value of $1,009,753.29. Following the transaction, the chief executive officer owned 55,970 shares of the company’s stock, valued at approximately $2,248,314.90. The trade was a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas N. Tryforos sold 100,000 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total value of $3,907,000.00. The SEC filing for this sale provides additional information. 9.60% of the stock is currently owned by insiders.

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.