Truist Financial Corp Has $16.71 Million Position in Copart, Inc. $CPRT

Truist Financial Corp boosted its position in shares of Copart, Inc. (NASDAQ:CPRT) by 13.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 371,615 shares of the business services provider’s stock after buying an additional 45,198 shares during the quarter. Truist Financial Corp’s holdings in Copart were worth $16,712,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CPRT. Tripletail Wealth Management LLC bought a new position in shares of Copart in the 3rd quarter valued at about $27,000. Ameritas Advisory Services LLC acquired a new position in Copart in the second quarter valued at approximately $31,000. Creekmur Asset Management LLC boosted its stake in Copart by 1,063.0% in the second 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 during the last quarter. Bank of Jackson Hole Trust raised its position in shares of Copart by 83.8% during the 2nd quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 335 shares during the last quarter. Finally, GFG Capital LLC bought a new stake in shares of Copart during the 2nd quarter valued at $37,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 25,137 shares of the firm’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $40.17, for a total value of $1,009,753.29. Following the completion of the transaction, the chief executive officer owned 55,970 shares of the company’s stock, valued at approximately $2,248,314.90. This trade represents a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas N. Tryforos sold 100,000 shares of Copart stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total transaction of $3,907,000.00. Additional details regarding this sale are available in the official SEC disclosure. 9.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CPRT shares. Robert W. Baird decreased their price objective on Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, November 21st. JPMorgan Chase & Co. reduced their price objective 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. CJS Securities upgraded shares of Copart to a “strong-buy” rating in a report on Thursday, December 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Copart in a report on Wednesday, October 8th. Finally, Barclays reissued an “underweight” rating and issued a $33.00 price target (up previously from $32.00) on shares of Copart in a report on Friday, November 21st. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.60.

Copart Trading Up 0.7%

Shares of NASDAQ CPRT opened at $40.58 on Friday. The company has a fifty day moving average price of $39.49 and a 200 day moving average price of $43.34. The firm has a market cap of $39.28 billion, a PE ratio of 24.74 and a beta of 1.10. Copart, Inc. has a 1-year low of $37.41 and a 1-year high of $63.85.

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

About Copart

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.