Assenagon Asset Management S.A. Has $93.40 Million Stock Position in Copart, Inc. $CPRT

Assenagon Asset Management S.A. increased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 123.0% during the second quarter, Holdings Channel reports. The institutional investor owned 3,313,222 shares of the business services provider’s stock after purchasing an additional 1,827,203 shares during the period. Assenagon Asset Management S.A.’s holdings in Copart were worth $93,400,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its holdings in Copart by 14.0% during the first quarter. Janney Montgomery Scott LLC now owns 333,624 shares of the business services provider’s stock worth $11,076,000 after buying an additional 41,060 shares during the last quarter. ABN Amro Investment Solutions grew its holdings in shares of Copart by 82.5% during the fourth quarter. ABN Amro Investment Solutions now owns 199,794 shares of the business services provider’s stock valued at $7,822,000 after buying an additional 90,339 shares during the last quarter. Davidson Kahn Capital Management LLC raised its holdings in shares of Copart by 56.3% in the 4th quarter. Davidson Kahn Capital Management LLC now owns 100,151 shares of the business services provider’s stock worth $3,921,000 after acquiring an additional 36,091 shares during the last quarter. Assetmark Inc. lifted its position in Copart by 7.3% in the 4th quarter. Assetmark Inc. now owns 507,255 shares of the business services provider’s stock valued at $19,859,000 after acquiring an additional 34,410 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in 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 valued at $906,836,000 after purchasing an additional 131,703 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Up 2.2%

Shares of CPRT stock opened at $29.66 on Friday. The firm has a market cap of $27.46 billion, a P/E ratio of 18.42 and a beta of 1.01. The company has a 50 day moving average of $29.42 and a 200-day moving average of $33.37. Copart, Inc. has a 12-month low of $26.81 and a 12-month high of $50.11.

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

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 27,745 shares of Copart 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 completion of the transaction, the chief executive officer owned 99,641 shares in the company, valued at $3,038,054.09. This trade represents a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 9.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Barclays set a $26.00 target price on Copart and gave the company an “underweight” rating in a report on Tuesday, July 21st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Copart in a report on Wednesday, July 29th. Freedom Capital upgraded shares of Copart to a “strong-buy” rating in a research note on Friday, June 26th. Jefferies Financial Group set a $45.00 price target on shares of Copart in a research report on Friday, May 22nd. Finally, Zacks Research cut shares of Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Three investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Copart presently has an average rating of “Hold” and an average target price of $43.50.

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.