PKO Investment Management Joint Stock Co Buys New Stake in Copart, Inc. $CPRT

PKO Investment Management Joint Stock Co bought a new position in Copart, Inc. (NASDAQ:CPRT) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 35,000 shares of the business services provider’s stock, valued at approximately $1,162,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp grew its position in shares of Copart by 1.3% in the fourth quarter. State Street Corp now owns 37,555,437 shares of the business services provider’s stock valued at $1,470,295,000 after purchasing an additional 492,506 shares during the last quarter. Capital World Investors lifted its position in shares of Copart by 25.1% during the 4th quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock worth $1,085,588,000 after purchasing an additional 5,555,101 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Copart by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 23,255,161 shares of the business services provider’s stock worth $906,836,000 after purchasing an additional 131,703 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Copart by 21.7% during the 4th quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock worth $860,618,000 after purchasing an additional 3,918,610 shares during the last quarter. Finally, Norges Bank bought a new stake in Copart during the 4th quarter valued at approximately $569,569,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Performance

Shares of CPRT opened at $29.60 on Wednesday. The company has a 50-day simple moving average of $32.42 and a 200-day simple moving average of $35.74. Copart, Inc. has a 52 week low of $29.41 and a 52 week high of $50.11. The firm has a market capitalization of $27.40 billion, a P/E ratio of 18.39 and a beta of 1.00.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. Copart had a return on equity of 16.63% and a net margin of 33.48%.The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the business earned $0.42 earnings per share. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities analysts forecast that Copart, Inc. will post 1.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CPRT shares. Zacks Research raised Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Weiss Ratings lowered Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Finally, Jefferies Financial Group set a $45.00 price objective on Copart in a research report on Friday, May 22nd. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $44.50.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 26,213 shares of Copart stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the sale, the chief executive officer owned 79,532 shares of the company’s stock, valued at approximately $2,638,871.76. This trade represents a 24.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 9.60% of the company’s stock.

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.