Copart, Inc. $CPRT Shares Sold by TD Asset Management Inc

TD Asset Management Inc reduced its position in shares of Copart, Inc. (NASDAQ:CPRT) by 0.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,181,319 shares of the business services provider’s stock after selling 39,094 shares during the period. TD Asset Management Inc owned about 0.43% of Copart worth $163,699,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackDiamond Wealth Management LLC raised its position in shares of Copart by 14.9% during the 4th quarter. BlackDiamond Wealth Management LLC now owns 7,781 shares of the business services provider’s stock valued at $314,000 after acquiring an additional 1,009 shares in the last quarter. Jackson Hill Advisors LLC raised its position in shares of Copart by 41.8% during the 4th quarter. Jackson Hill Advisors LLC now owns 339,000 shares of the business services provider’s stock valued at $13,272,000 after acquiring an additional 100,000 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Copart by 34.6% during the 4th quarter. CIBC Asset Management Inc now owns 388,496 shares of the business services provider’s stock valued at $15,210,000 after acquiring an additional 99,900 shares in the last quarter. Marble Wealth LLC acquired a new stake in shares of Copart during the 4th quarter valued at approximately $338,000. Finally, Bank of New York Mellon Corp raised its position in shares of Copart by 21.7% during 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 acquiring an additional 3,918,610 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CPRT shares. JPMorgan Chase & Co. dropped their target price on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, February 23rd. Jefferies Financial Group set a $45.00 target price on Copart in a research report on Friday, May 22nd. Robert W. Baird set a $48.00 target price on Copart and gave the stock an “outperform” rating in a research report on Friday, February 20th. Weiss Ratings lowered Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Finally, Zacks Research raised Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Copart currently has an average rating of “Hold” and a consensus target price of $44.50.

Copart Price Performance

Shares of NASDAQ CPRT opened at $30.77 on Friday. Copart, Inc. has a 1-year low of $29.97 and a 1-year high of $50.92. The business’s fifty day moving average price is $33.07 and its two-hundred day moving average price is $36.59. The firm has a market capitalization of $28.49 billion, a PE ratio of 19.11 and a beta of 1.00.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.02. The firm 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%.The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the company earned $0.42 earnings per share. Equities research analysts expect that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 26,213 shares of the firm’s stock in a transaction on 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. This trade represents a 24.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 9.60% of the company’s stock.

Copart 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.