C WorldWide Group Holding A S Invests $1.37 Million in Copart, Inc. $CPRT

C WorldWide Group Holding A S acquired a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 30,347 shares of the business services provider’s stock, valued at approximately $1,365,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Copart by 13.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 371,603 shares of the business services provider’s stock worth $16,711,000 after buying an additional 45,346 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Copart by 3.5% during the second quarter. Nordea Investment Management AB now owns 753,973 shares of the business services provider’s stock worth $36,153,000 after acquiring an additional 25,564 shares during the period. California Public Employees Retirement System increased its position in shares of Copart by 89.0% during the second quarter. California Public Employees Retirement System now owns 2,548,275 shares of the business services provider’s stock worth $125,044,000 after acquiring an additional 1,200,035 shares during the period. Lord & Richards Wealth Management LLC boosted its holdings in Copart by 32.6% in the second quarter. Lord & Richards Wealth Management LLC now owns 34,245 shares of the business services provider’s stock valued at $1,680,000 after purchasing an additional 8,413 shares during the period. Finally, Elevate Capital Advisors LLC purchased a new position in Copart in the third quarter valued at $1,472,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Activity at Copart

In other news, Director Thomas N. Tryforos sold 100,000 shares of the company’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey Liaw sold 25,137 shares of the stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the completion of the transaction, the chief executive officer directly owned 55,970 shares in the company, valued at $2,248,314.90. This trade represents a 30.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 9.60% of the stock is currently owned by insiders.

Copart Stock Performance

CPRT opened at $39.88 on Friday. Copart, Inc. has a one year low of $37.41 and a one year high of $63.85. The company has a market cap of $38.60 billion, a P/E ratio of 24.32 and a beta of 1.08. The business’s 50-day simple moving average is $39.55 and its 200-day simple moving average is $43.18.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, November 20th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $1.16 billion during 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%.The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.37 earnings per share. As a group, analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on CPRT. CJS Securities upgraded Copart to a “strong-buy” rating in a report on Thursday, December 11th. JPMorgan Chase & Co. cut 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 reduced their target price on shares of Copart from $55.00 to $52.00 and set an “outperform” rating on the stock in a report on Friday, November 21st. Finally, Barclays reiterated an “underweight” rating and set a $33.00 price target (up previously 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 assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $47.60.

About Copart

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.