Baader Bank Aktiengesellschaft Sells 17,015 Shares of Copart, Inc. $CPRT

Baader Bank Aktiengesellschaft decreased its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 48.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,765 shares of the business services provider’s stock after selling 17,015 shares during the period. Baader Bank Aktiengesellschaft’s holdings in Copart were worth $790,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Copart by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 106,408,868 shares of the business services provider’s stock worth $5,221,483,000 after buying an additional 2,144,946 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Copart by 3.2% during the third quarter. Principal Financial Group Inc. now owns 40,175,058 shares of the business services provider’s stock valued at $1,806,674,000 after acquiring an additional 1,236,101 shares during the period. State Street Corp lifted its holdings in shares of Copart by 3.3% during the second 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 boosted its stake 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 purchasing an additional 656,333 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Copart in the 2nd quarter worth about $549,448,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CPRT has been the subject of several analyst reports. CJS Securities raised shares of Copart to a “strong-buy” rating in a report on Thursday, December 11th. JPMorgan Chase & Co. decreased their price target on 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 dropped their price target on Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a report on Friday, November 21st. Finally, Barclays reissued an “underweight” rating and issued a $33.00 price objective (up previously from $32.00) on shares of Copart in a research note on Friday, November 21st. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $47.60.

Copart Stock Down 2.1%

Copart stock opened at $39.51 on Thursday. The business’s 50-day simple moving average is $39.64 and its 200 day simple moving average is $42.98. The stock has a market cap of $38.25 billion, a price-to-earnings ratio of 24.09 and a beta of 1.08. Copart, Inc. has a 12-month low of $37.41 and a 12-month high of $63.85.

Copart (NASDAQ:CPRT) last released 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 net margin of 34.24% and a return on equity of 17.78%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the prior year, the company posted $0.37 EPS. The company’s revenue was up .7% compared to the same quarter last year. As a group, sell-side analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

Insider Buying and Selling at Copart

In related news, Director Thomas N. Tryforos sold 100,000 shares of the company’s 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey Liaw sold 25,137 shares of the stock in a transaction dated 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 in the company, valued at $2,248,314.90. The trade was a 30.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 9.60% of the company’s stock.

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.