Copart, Inc. $CPRT Position Boosted by Assetmark Inc.

Assetmark Inc. boosted its stake in Copart, Inc. (NASDAQ:CPRT) by 29.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 472,845 shares of the business services provider’s stock after buying an additional 107,160 shares during the period. Assetmark Inc.’s holdings in Copart were worth $21,264,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of 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 acquiring an additional 2,144,946 shares in the last quarter. Principal Financial Group Inc. lifted its position in Copart by 3.2% in the third quarter. Principal Financial Group Inc. now owns 40,175,058 shares of the business services provider’s stock worth $1,806,674,000 after purchasing an additional 1,236,101 shares during the period. State Street Corp boosted its stake in Copart by 3.3% during 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 purchasing an additional 1,167,265 shares in the last quarter. Geode Capital Management LLC boosted its stake in Copart by 3.3% during 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 acquired a new position in shares of Copart during the 2nd quarter valued at $549,448,000. 85.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. CJS Securities raised shares of Copart to a “strong-buy” rating in a research note on Thursday, December 11th. JPMorgan Chase & Co. cut their price objective 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 restated an “underweight” rating and issued a $33.00 target price (up from $32.00) on shares of Copart in a report on Friday, November 21st. Finally, Robert W. Baird reduced their target price on Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a report on Friday, November 21st. Two 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 assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $47.60.

Insider Transactions at Copart

In related news, Director Thomas N. Tryforos sold 100,000 shares of the firm’s 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey Liaw sold 25,137 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total value of $1,009,753.29. Following the completion of the sale, 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 disclosure for this sale is available in the SEC filing. 9.60% of the stock is owned by insiders.

Copart Stock Performance

NASDAQ:CPRT opened at $37.49 on Friday. The company has a market capitalization of $36.29 billion, a P/E ratio of 22.86 and a beta of 1.08. The stock’s 50 day moving average price is $39.57 and its 200 day moving average price is $42.86. Copart, Inc. has a 52 week low of $36.52 and a 52 week high of $63.85.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, November 20th. The business services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.18 billion. Copart had a net margin of 34.24% and a return on equity of 17.78%. Copart’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the firm earned $0.37 EPS. As a group, sell-side analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

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.