Canoe Financial LP Has $12.56 Million Position in Copart, Inc. $CPRT

Canoe Financial LP grew its holdings in Copart, Inc. (NASDAQ:CPRT) by 11.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 279,327 shares of the business services provider’s stock after purchasing an additional 28,300 shares during the period. Canoe Financial LP’s holdings in Copart were worth $12,561,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in Copart in the 2nd quarter valued at approximately $549,448,000. Fiera Capital Corp grew its holdings in shares of Copart by 75.3% during the 2nd quarter. Fiera Capital Corp now owns 7,000,430 shares of the business services provider’s stock valued at $343,511,000 after acquiring an additional 3,007,820 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Copart by 75.2% in the second quarter. First Trust Advisors LP now owns 6,579,404 shares of the business services provider’s stock worth $322,851,000 after acquiring an additional 2,824,991 shares during the last quarter. PineStone Asset Management Inc. increased its stake in shares of Copart by 56.4% in the second quarter. PineStone Asset Management Inc. now owns 6,407,471 shares of the business services provider’s stock worth $314,415,000 after acquiring an additional 2,310,067 shares during the last quarter. Finally, Amundi raised its holdings in shares of Copart by 32.5% during the first quarter. Amundi now owns 9,380,026 shares of the business services provider’s stock worth $531,256,000 after acquiring an additional 2,299,192 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Thomas N. Tryforos sold 100,000 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $39.07, for a total value of $3,907,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey Liaw sold 24,283 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer owned 31,332 shares in the company, valued at approximately $1,403,360.28. The trade was a 43.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 9.60% of the stock is owned by insiders.

Copart Stock Performance

CPRT opened at $39.05 on Friday. The firm has a market cap of $37.80 billion, a P/E ratio of 23.81 and a beta of 1.12. The business has a 50 day moving average price of $40.81 and a 200 day moving average price of $44.92. Copart, Inc. has a twelve month low of $38.18 and a twelve month high of $63.85.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, November 20th. The business services provider reported $0.41 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $1.18 billion. During the same quarter last year, the company posted $0.37 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CPRT has been the topic of several research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a research report on Wednesday, October 8th. Stephens lowered their price target on Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a research note on Friday, September 5th. Hsbc Global Res raised shares of Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. CJS Securities upgraded shares of Copart to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Copart from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday, November 24th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.60.

Copart 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.