Copart, Inc. $CPRT Stock Position Decreased by Whittier Trust Co.

Whittier Trust Co. cut its holdings in Copart, Inc. (NASDAQ:CPRT) by 52.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 250,218 shares of the business services provider’s stock after selling 275,981 shares during the quarter. Whittier Trust Co.’s holdings in Copart were worth $8,217,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CPRT. State Street Corp increased its holdings in shares of Copart by 1.3% during the 4th quarter. State Street Corp now owns 37,555,437 shares of the business services provider’s stock valued at $1,470,295,000 after acquiring an additional 492,506 shares during the last quarter. Capital World Investors raised its stake in shares of Copart by 25.1% in the 4th quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock valued at $1,085,588,000 after acquiring an additional 5,555,101 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Copart by 0.6% in 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 holdings in Copart by 21.7% in 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 fourth quarter worth approximately $569,569,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 26,213 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The shares were 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 9.60% of the company’s stock.

Copart Price Performance

Shares of NASDAQ CPRT traded up $0.27 during mid-day trading on Tuesday, hitting $29.50. The company had a trading volume of 1,850,692 shares, compared to its average volume of 9,868,631. Copart, Inc. has a 12 month low of $27.84 and a 12 month high of $50.11. The firm has a market cap of $27.32 billion, a P/E ratio of 18.31 and a beta of 1.02. The business’s 50-day simple moving average is $31.69 and its 200-day simple moving average is $35.16.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates 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% on a year-over-year basis. During the same period in the prior year, the company posted $0.42 earnings per share. As a group, sell-side analysts predict that Copart, Inc. will post 1.58 EPS for the current year.

Analysts Set New Price Targets

CPRT has been the topic of a number of recent analyst reports. Weiss Ratings lowered shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Freedom Capital raised shares of Copart to a “strong-buy” rating in a report on Friday, June 26th. Zacks Research upgraded shares of 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 target price on shares of Copart in a research report on Friday, May 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, one has given 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 company has an average rating of “Moderate Buy” and an average target price of $44.50.

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.