SG Americas Securities LLC Reduces Holdings in Copart, Inc. $CPRT

SG Americas Securities LLC reduced its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 56.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,071 shares of the business services provider’s stock after selling 29,319 shares during the quarter. SG Americas Securities LLC’s holdings in Copart were worth $1,038,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CPRT. Vanguard Group Inc. lifted its stake in Copart by 2.1% in the second quarter. Vanguard Group Inc. now owns 106,408,868 shares of the business services provider’s stock valued at $5,221,483,000 after buying an additional 2,144,946 shares during the last quarter. State Street Corp increased its holdings in shares of Copart by 3.3% in the 2nd quarter. State Street Corp now owns 36,406,503 shares of the business services provider’s stock valued at $1,786,467,000 after acquiring an additional 1,167,265 shares during the period. Geode Capital Management LLC increased its holdings in shares of Copart by 3.3% in the 2nd quarter. Geode Capital Management LLC now owns 20,462,076 shares of the business services provider’s stock valued at $999,305,000 after acquiring an additional 656,333 shares during the period. Norges Bank acquired a new stake in Copart during the 2nd quarter worth $549,448,000. Finally, Invesco Ltd. grew its position in Copart by 7.1% during the 2nd quarter. Invesco Ltd. now owns 10,160,298 shares of the business services provider’s stock worth $498,566,000 after purchasing an additional 670,061 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Trading Down 0.5%

CPRT stock opened at $41.04 on Monday. Copart, Inc. has a 52 week low of $37.41 and a 52 week high of $63.85. The company has a market cap of $39.73 billion, a P/E ratio of 25.02 and a beta of 1.10. The company’s 50-day moving average price is $39.55 and its 200 day moving average price is $43.81.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, November 20th. The business services provider reported $0.41 EPS for the quarter, topping 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 business 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 EPS. The company’s quarterly revenue was up .7% on a year-over-year basis. On average, equities research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Buying and Selling at Copart

In other news, Director Thomas N. Tryforos sold 100,000 shares of the firm’s stock in a transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey Liaw sold 25,137 shares of the business’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the completion of the sale, the chief executive officer owned 55,970 shares in the company, valued at $2,248,314.90. This represents a 30.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 9.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on CPRT. Weiss Ratings restated a “hold (c)” rating on shares of Copart in a research report on Wednesday, October 8th. CJS Securities raised Copart to a “strong-buy” rating in a report on Thursday, December 11th. JPMorgan Chase & Co. lowered their price objective on shares of Copart from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Monday, November 24th. Robert W. Baird cut their price objective on shares of Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a research report on Friday, November 21st. Finally, Barclays reaffirmed an “underweight” rating and issued a $33.00 target price (up previously from $32.00) on shares of Copart in a report on Friday, November 21st. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $47.60.

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.