Phoenix Financial Ltd. Lowers Holdings in Copart, Inc. $CPRT

Phoenix Financial Ltd. lessened its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 33.5% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,526 shares of the business services provider’s stock after selling 7,308 shares during the quarter. Phoenix Financial Ltd.’s holdings in Copart were worth $712,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Copart by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider’s stock worth $5,900,295,000 after purchasing an additional 2,134,890 shares in the last quarter. Principal Financial Group Inc. increased its position in Copart by 3.3% during the 1st quarter. Principal Financial Group Inc. now owns 39,409,377 shares of the business services provider’s stock worth $2,230,177,000 after purchasing an additional 1,249,687 shares in the last quarter. JPMorgan Chase & Co. increased its position in Copart by 15.9% during the 1st quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider’s stock worth $868,417,000 after purchasing an additional 2,106,656 shares in the last quarter. Invesco Ltd. increased its position in Copart by 7.5% during the 1st quarter. Invesco Ltd. now owns 9,490,237 shares of the business services provider’s stock worth $537,052,000 after purchasing an additional 658,329 shares in the last quarter. Finally, Amundi increased its position in Copart by 32.5% during the 1st quarter. Amundi now owns 9,380,026 shares of the business services provider’s stock worth $531,256,000 after purchasing an additional 2,299,192 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at Copart

In other news, Director Thomas N. Tryforos sold 228,840 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $47.54, for a total transaction of $10,879,053.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey Liaw sold 24,283 shares of the stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total value of $1,087,635.57. Following the transaction, the chief executive officer owned 31,332 shares of the company’s stock, valued at approximately $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. Corporate insiders own 9.68% of the company’s stock.

Copart Stock Down 1.8%

NASDAQ CPRT opened at $44.93 on Thursday. The stock has a market cap of $43.48 billion, a PE ratio of 28.08 and a beta of 1.03. Copart, Inc. has a fifty-two week low of $43.32 and a fifty-two week high of $64.38. The business has a 50 day moving average price of $46.48 and a two-hundred day moving average price of $50.66.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, September 4th. The business services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.37 by $0.04. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Copart had a return on equity of 18.17% and a net margin of 33.41%.The business’s revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 EPS. Sell-side analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Copart Company 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.