Vanguard Group Inc. Has $4.90 Billion Position in Copart, Inc. $CPRT

Vanguard Group Inc. raised its holdings in Copart, Inc. (NASDAQ:CPRT) by 2.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 108,990,652 shares of the business services provider’s stock after acquiring an additional 2,581,784 shares during the quarter. Vanguard Group Inc. owned about 11.26% of Copart worth $4,901,310,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Cloud Capital Management LLC acquired a new position in shares of Copart in the 3rd quarter valued at $25,000. Tripletail Wealth Management LLC bought a new stake in Copart in the third quarter valued at about $27,000. LRI Investments LLC increased its holdings in Copart by 125.2% in the third quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 363 shares during the last quarter. Creekmur Asset Management LLC lifted 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 buying an additional 574 shares during the period. Finally, Cornerstone Planning Group LLC boosted its holdings in Copart by 54.0% during the third quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock worth $31,000 after buying an additional 256 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on CPRT. JPMorgan Chase & Co. decreased their target price on Copart from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Monday, November 24th. Barclays reissued an “underweight” rating and set a $33.00 price objective (up previously from $32.00) on shares of Copart in a research note on Friday, November 21st. CJS Securities upgraded shares of Copart to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Robert W. Baird cut their target price on shares of Copart from $55.00 to $52.00 and set an “outperform” rating on the stock in a report on Friday, November 21st. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Copart has a consensus rating of “Moderate Buy” and a consensus price target of $47.60.

Copart Stock Performance

Shares of CPRT opened at $37.52 on Wednesday. The stock has a 50 day simple moving average of $39.54 and a 200 day simple moving average of $42.72. Copart, Inc. has a 52-week low of $36.52 and a 52-week high of $63.85. The firm has a market capitalization of $36.32 billion, a PE ratio of 22.88 and a beta of 1.08.

Copart (NASDAQ:CPRT) last announced its 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 net margin of 34.24% and a return on equity of 17.78%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the company posted $0.37 EPS. The business’s quarterly revenue was up .7% on a year-over-year basis. Equities research analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jeffrey Liaw sold 25,137 shares of the company’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 directly owned 55,970 shares of the company’s stock, valued at approximately $2,248,314.90. This represents a 30.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas N. Tryforos sold 100,000 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $39.07, for a total value of $3,907,000.00. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 9.60% of the company’s stock.

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.