226,318 Copart, Inc. $CPRT Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 42.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 762,518 shares of the business services provider’s stock after buying an additional 226,318 shares during the period. Pictet Asset Management Holding SA owned 0.08% of Copart worth $20,801,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its position in shares of Copart by 24.1% during the 3rd quarter. Parallel Advisors LLC now owns 15,870 shares of the business services provider’s stock valued at $433,000 after acquiring an additional 3,084 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co increased its stake in shares of Copart by 15.4% in the 3rd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 434,616 shares of the business services provider’s stock valued at $11,856,000 after purchasing an additional 57,841 shares in the last quarter. United Advisor Group LLC raised its holdings in Copart by 13.1% in the 3rd quarter. United Advisor Group LLC now owns 22,436 shares of the business services provider’s stock worth $612,000 after purchasing an additional 2,594 shares during the period. CenterBook Partners LP raised its holdings in Copart by 90.7% in the 3rd quarter. CenterBook Partners LP now owns 70,301 shares of the business services provider’s stock worth $1,918,000 after purchasing an additional 33,443 shares during the period. Finally, Calamos Advisors LLC purchased a new position in Copart during the third quarter worth approximately $13,231,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on CPRT shares. Robert W. Baird dropped their price objective on Copart from $42.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, September 11th. Deutsche Bank set a $40.00 target price on Copart in a research note on Thursday, September 3rd. Stephens reaffirmed an “equal weight” rating and set a $35.00 target price on shares of Copart in a research note on Thursday, August 20th. Barrington Research upgraded Copart from a “market perform” rating to an “outperform” rating and set a $40.00 target price on the stock in a research report on Friday, September 11th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Copart in a research note on Tuesday, October 27th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.90.

Insider Buying and Selling

In other Copart news, Director Diane Morefield sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $27.66, for a total transaction of $553,200.00. Following the completion of the sale, the director directly owned 50,000 shares in the company, valued at approximately $1,383,000. The trade was a 28.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 9.30% of the company’s stock.

Copart Stock Down 0.4%

CPRT stock opened at $32.17 on Thursday. The stock has a market capitalization of $29.80 billion, a P/E ratio of 20.75, a P/E/G ratio of 1.58 and a beta of 1.01. The firm has a 50-day simple moving average of $29.42 and a 200-day simple moving average of $32.09. Copart, Inc. has a 52 week low of $25.72 and a 52 week high of $42.05.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, September 10th. The business services provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.03). The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. Copart had a return on equity of 15.93% and a net margin of 31.81%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the company earned $0.41 EPS. On average, analysts expect that Copart, Inc. will post 1.63 earnings per share for the current year.

Copart Profile

Copart, Inc. operates an online vehicle auction and remarketing business. Its platform connects sellers with buyers of used and damaged vehicles, including cars, trucks, motorcycles and other equipment. The company serves insurance companies, vehicle dealers, rental and fleet operators, financial institutions and other businesses, as well as individual buyers. Its services include online auctions, vehicle storage, title processing and support with vehicle transportation. Founded in 1982 by Willis Johnson, Copart has expanded from its origins in the United States to serve customers in multiple countries, including markets in North America, Europe and the Middle East.