Capital Research Global Investors Has $155.55 Million Stake in Copart, Inc. $CPRT

Capital Research Global Investors trimmed its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 57.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,972,849 shares of the business services provider’s stock after selling 5,374,719 shares during the period. Capital Research Global Investors’ holdings in Copart were worth $155,552,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CPRT. Lodestone Wealth Management LLC bought a new position in Copart in the fourth quarter valued at approximately $25,000. FNY Investment Advisers LLC acquired a new stake in Copart during the 3rd quarter worth $36,000. Aventura Private Wealth LLC acquired a new stake in Copart during the 4th quarter worth $33,000. Board of the Pension Protection Fund acquired a new stake in Copart during the 4th quarter worth $35,000. Finally, Geneos Wealth Management Inc. grew its holdings in Copart by 365.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock worth $63,000 after acquiring an additional 878 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Stock Down 0.3%

Shares of CPRT stock opened at $30.86 on Tuesday. The firm has a fifty day moving average of $32.99 and a 200-day moving average of $36.45. Copart, Inc. has a 12-month low of $29.97 and a 12-month high of $50.91. The company has a market capitalization of $28.57 billion, a price-to-earnings ratio of 19.17 and a beta of 1.01.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.02. Copart had a net margin of 33.48% and a return on equity of 16.63%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm earned $0.42 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. On average, equities analysts expect that Copart, Inc. will post 1.58 EPS for the current year.

Insider Activity

In other news, CEO Jeffrey Liaw sold 26,213 shares of the stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total transaction of $869,747.34. Following the completion of the sale, the chief executive officer owned 79,532 shares of the company’s stock, valued at $2,638,871.76. This represents a 24.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Robert W. Baird set a $48.00 target price on shares of Copart and gave the stock an “outperform” rating in a report on Friday, February 20th. Jefferies Financial Group set a $45.00 target price on shares of Copart in a report on Friday, May 22nd. Barclays reiterated an “underweight” rating and issued a $32.00 target price (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Weiss Ratings lowered shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. cut their target price on shares of Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $44.50.

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.