Copart, Inc. $CPRT Stock Holdings Increased by Legal & General Group Plc

Legal & General Group Plc lifted its position in Copart, Inc. (NASDAQ:CPRT) by 0.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,770,954 shares of the business services provider’s stock after buying an additional 21,683 shares during the period. Legal & General Group Plc’s holdings in Copart were worth $225,933,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cloud Capital Management LLC bought a new stake in shares of Copart in the 3rd quarter worth $25,000. Lodestone Wealth Management LLC bought a new stake in shares of Copart in the 4th quarter worth $25,000. LRI Investments LLC raised its stake in shares of Copart by 125.2% in the 3rd quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock worth $29,000 after buying an additional 363 shares in the last quarter. Cornerstone Planning Group LLC raised its stake in shares of Copart by 54.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock worth $31,000 after buying an additional 256 shares in the last quarter. Finally, Aventura Private Wealth LLC bought a new stake in shares of Copart in the 4th quarter worth $33,000. Institutional investors own 85.78% of the company’s stock.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 26,213 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer directly owned 79,532 shares of the company’s stock, valued at $2,638,871.76. This represents a 24.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 9.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on CPRT. JPMorgan Chase & Co. dropped their price objective on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. Weiss Ratings downgraded Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Barclays reissued an “underweight” rating and issued a $32.00 price objective (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. Zacks Research raised Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Jefferies Financial Group set a $45.00 price objective on Copart in a research note on Friday, May 22nd. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $44.50.

Copart Stock Down 1.2%

Shares of NASDAQ CPRT opened at $32.85 on Thursday. Copart, Inc. has a 12 month low of $32.20 and a 12 month high of $53.09. The company has a market cap of $31.64 billion, a price-to-earnings ratio of 20.40 and a beta of 1.02. The business has a fifty day simple moving average of $33.24 and a 200-day simple moving average of $36.99.

Copart (NASDAQ:CPRT) last announced its earnings results 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 return on equity of 16.63% and a net margin of 33.48%.The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the business posted $0.42 earnings per share. Copart’s revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts expect that Copart, Inc. will post 1.57 EPS 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.