369,760 Shares in Copart, Inc. $CPRT Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership acquired a new stake in Copart, Inc. (NASDAQ:CPRT) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 369,760 shares of the business services provider’s stock, valued at approximately $18,144,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Atticus Wealth Management LLC acquired a new stake in shares of Copart in the second quarter valued at about $31,000. Creekmur Asset Management LLC grew its stake in Copart by 1,063.0% during the 2nd quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 574 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in Copart in the 2nd quarter valued at about $31,000. Bank of Jackson Hole Trust lifted its stake in Copart by 83.8% in the 2nd quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock worth $36,000 after purchasing an additional 335 shares in the last quarter. Finally, GFG Capital LLC acquired a new position in shares of Copart during the 2nd quarter worth approximately $37,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Buying and Selling at Copart

In related news, CEO Jeffrey Liaw sold 24,283 shares of the stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the transaction, the chief executive officer owned 31,332 shares of the company’s stock, valued at approximately $1,403,360.28. This represents a 43.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas N. Tryforos sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total value of $3,907,000.00. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 353,123 shares of company stock worth $15,873,689 in the last quarter. Company insiders own 9.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. cut their price target on Copart from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Monday, November 24th. Robert W. Baird dropped their target price on Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a report on Friday, November 21st. Barclays reaffirmed an “underweight” rating and issued a $33.00 target price (up from $32.00) on shares of Copart in a research note on Friday, November 21st. HSBC set a $62.00 price target on shares of Copart and gave the company a “buy” rating in a research report on Thursday, September 4th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Copart in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Copart currently has a consensus rating of “Hold” and an average price target of $47.60.

Copart Stock Performance

NASDAQ:CPRT opened at $38.72 on Monday. Copart, Inc. has a fifty-two week low of $38.61 and a fifty-two week high of $63.85. The company has a 50 day moving average price of $42.37 and a 200 day moving average price of $46.13. The stock has a market capitalization of $37.48 billion, a P/E ratio of 23.61 and a beta of 1.12.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, November 20th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Copart had a return on equity of 17.78% and a net margin of 34.24%.The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the company earned $0.37 earnings per share. The firm’s quarterly revenue was up .7% compared to the same quarter last year. Research analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Copart Profile

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.