226,318 Copart, Inc. $CPRT Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its position in Copart, Inc. (NASDAQ:CPRT) by 42.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 762,518 shares of the business services provider’s stock after purchasing an additional 226,318 shares during the period. Pictet Asset Management Holding SA’s holdings in Copart were worth $20,801,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CPRT. Confluence Investment Management LLC grew its stake in Copart by 44.2% during the 3rd quarter. Confluence Investment Management LLC now owns 422,532 shares of the business services provider’s stock valued at $11,527,000 after acquiring an additional 129,591 shares in the last quarter. Cohen Capital Management Inc. acquired a new stake in Copart in the 3rd quarter valued at about $1,780,000. MassMutual Private Wealth & Trust FSB raised its holdings in Copart by 3,034.7% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 200,557 shares of the business services provider’s stock valued at $5,471,000 after acquiring an additional 194,159 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in Copart by 6.4% in the 2nd quarter. Handelsbanken Fonder AB now owns 578,452 shares of the business services provider’s stock worth $16,307,000 after purchasing an additional 34,855 shares in the last quarter. Finally, Caisse de depot et placement du Quebec purchased a new position in Copart in the 2nd quarter worth approximately $81,534,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Buying and Selling

In other Copart news, Director Diane Morefield sold 20,000 shares of the company’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $27.66, for a total value of $553,200.00. Following the transaction, the director owned 50,000 shares of the company’s stock, valued at $1,383,000. This represents a 28.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 9.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CPRT has been the topic of several recent research reports. HSBC cut Copart from a “buy” rating to a “hold” rating and lowered their target price for the stock from $46.00 to $36.00 in a report on Wednesday, September 16th. Barclays set a $25.00 price target on Copart and gave the company an “underweight” rating in a report on Wednesday, August 26th. BNP Paribas Exane reiterated an “outperform” rating and set a $43.00 price objective (up from $40.00) on shares of Copart in a research report on Monday, September 28th. Robert W. Baird lowered their price objective on Copart from $42.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, September 11th. Finally, Freedom Broker dropped their target price on Copart from $39.00 to $36.00 and set a “buy” rating for the company in a report on Monday, September 14th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.90.

Copart Stock Down 0.4%

Shares of Copart stock opened at $32.17 on Thursday. Copart, Inc. has a 52 week low of $25.72 and a 52 week high of $42.05. The business’s fifty day simple moving average is $29.42 and its 200-day simple moving average is $32.09. The firm has a market cap of $29.80 billion, a PE ratio of 20.75, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, September 10th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. Copart had a return on equity of 15.93% and a net margin of 31.81%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.41 earnings per share. As a group, equities analysts expect that Copart, Inc. will post 1.63 earnings per share for the current year.

Copart Profile

Copart, Inc. operates an online vehicle auction and remarketing business. Its platform connects sellers with buyers of used and damaged vehicles, including cars, trucks, motorcycles and other equipment. The company serves insurance companies, vehicle dealers, rental and fleet operators, financial institutions and other businesses, as well as individual buyers. Its services include online auctions, vehicle storage, title processing and support with vehicle transportation. Founded in 1982 by Willis Johnson, Copart has expanded from its origins in the United States to serve customers in multiple countries, including markets in North America, Europe and the Middle East.