Natixis Advisors LLC Increases Stock Holdings in Copart, Inc. $CPRT

Natixis Advisors LLC increased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 51.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,139,903 shares of the business services provider’s stock after purchasing an additional 722,681 shares during the period. Natixis Advisors LLC’s holdings in Copart were worth $96,231,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Bowie Capital Management LLC grew its stake in shares of Copart by 39.3% in the 3rd quarter. Bowie Capital Management LLC now owns 2,898,884 shares of the business services provider’s stock valued at $130,363,000 after buying an additional 817,857 shares during the period. Ameriflex Group Inc. purchased a new stake in shares of Copart during the 3rd quarter valued at approximately $76,000. First Trust Advisors LP lifted its holdings in Copart by 18.5% in the third quarter. First Trust Advisors LP now owns 7,796,203 shares of the business services provider’s stock valued at $350,595,000 after acquiring an additional 1,216,799 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in Copart by 85.6% in the third quarter. Neuberger Berman Group LLC now owns 152,617 shares of the business services provider’s stock valued at $6,863,000 after acquiring an additional 70,374 shares during the last quarter. Finally, Aptus Capital Advisors LLC grew its position in Copart by 11.7% in the third quarter. Aptus Capital Advisors LLC now owns 382,036 shares of the business services provider’s stock worth $17,180,000 after acquiring an additional 40,093 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Price Performance

Shares of Copart stock opened at $37.72 on Monday. The stock has a market capitalization of $36.34 billion, a price-to-earnings ratio of 23.58 and a beta of 1.09. The business has a 50-day moving average of $39.07 and a 200 day moving average of $41.83. Copart, Inc. has a 12 month low of $33.81 and a 12 month high of $63.85.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Copart had a return on equity of 16.68% and a net margin of 33.76%.The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the company earned $0.40 earnings per share. Equities research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Buying and Selling at Copart

In related news, CEO Jeffrey Liaw sold 25,137 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 55,970 shares of the company’s stock, valued at $2,248,314.90. This represents a 30.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 9.60% of the company’s stock.

Analyst Upgrades and Downgrades

CPRT has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut their target price on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. CJS Securities upgraded Copart to a “strong-buy” rating in a report on Thursday, December 11th. Robert W. Baird set a $48.00 price objective on Copart and gave the stock an “outperform” rating in a research report on Friday, February 20th. Zacks Research lowered shares of Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 24th. Finally, Barclays reaffirmed an “underweight” rating and issued a $32.00 target price (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $44.40.

Copart Company 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.