California State Teachers Retirement System Sells 38,787 Shares of Copart, Inc. $CPRT

California State Teachers Retirement System reduced its holdings in Copart, Inc. (NASDAQ:CPRT) by 2.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,309,674 shares of the business services provider’s stock after selling 38,787 shares during the quarter. California State Teachers Retirement System’s holdings in Copart were worth $43,481,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CPRT. Lodestone Wealth Management LLC acquired a new position in shares of Copart during the fourth quarter valued at about $25,000. Cache Advisors LLC acquired a new stake in shares of Copart in the 1st quarter valued at about $31,000. Reflection Asset Management bought a new stake in Copart in the 4th quarter valued at about $34,000. Triumph Capital Management increased its position in Copart by 424.2% in the 4th quarter. Triumph Capital Management now owns 1,017 shares of the business services provider’s stock valued at $40,000 after buying an additional 823 shares in the last quarter. Finally, SJS Investment Consulting Inc. increased its position in Copart by 129.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 1,350 shares of the business services provider’s stock valued at $45,000 after buying an additional 761 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total value of $845,945.05. Following the transaction, the chief executive officer owned 99,641 shares in the company, valued at approximately $3,038,054.09. The trade was a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on CPRT. Barclays set a $26.00 price target on shares of Copart and gave the company an “underweight” rating in a research report on Tuesday, July 21st. Jefferies Financial Group set a $45.00 price objective on shares of Copart in a report on Friday, May 22nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Copart in a research note on Wednesday. Zacks Research cut shares of Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday. Finally, Freedom Capital raised shares of Copart to a “strong-buy” rating in a research report on Friday, June 26th. Three investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $43.50.

Copart Stock Down 1.5%

Shares of NASDAQ:CPRT opened at $29.12 on Friday. The firm has a market capitalization of $26.96 billion, a PE ratio of 18.09 and a beta of 1.02. The company has a 50-day moving average price of $29.82 and a two-hundred day moving average price of $33.76. Copart, Inc. has a twelve month low of $26.81 and a twelve month high of $50.11.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, beating 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 analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the company earned $0.42 earnings per share. Copart’s revenue for the quarter was up 2.1% on a year-over-year basis. Analysts anticipate that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

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.