Citigroup Inc. Sells 639,106 Shares of Copart, Inc. $CPRT

Citigroup Inc. trimmed its position in Copart, Inc. (NASDAQ:CPRT) by 40.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 935,949 shares of the business services provider’s stock after selling 639,106 shares during the quarter. Citigroup Inc. owned 0.10% of Copart worth $42,090,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Cloud Capital Management LLC bought a new position in shares of Copart in the 3rd quarter valued at $25,000. Tripletail Wealth Management LLC acquired a new stake in Copart in the third quarter valued at about $27,000. LRI Investments LLC boosted its stake 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 buying an additional 363 shares in the last quarter. Creekmur Asset Management LLC grew its position 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. Finally, Cornerstone Planning Group LLC raised its stake 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 acquiring an additional 256 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Stock Performance

CPRT stock opened at $35.28 on Wednesday. The company has a market capitalization of $34.15 billion, a P/E ratio of 22.05 and a beta of 1.08. The company has a fifty day moving average price of $39.30 and a 200-day moving average price of $42.37. Copart, Inc. has a 52-week low of $33.81 and a 52-week high of $63.85.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.15 billion. Copart had a net margin of 33.76% and a return on equity of 16.68%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.40 earnings per share. As a group, sell-side analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 25,137 shares of the firm’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 transaction, the chief executive officer directly owned 55,970 shares in the company, valued at $2,248,314.90. This trade represents a 30.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 9.60% of the company’s stock.

Analysts Set New Price Targets

CPRT has been the topic of a number of research analyst reports. CJS Securities upgraded shares of Copart to a “strong-buy” rating in a research note on Thursday, December 11th. Barclays reissued an “underweight” rating and issued a $32.00 price objective (down from $33.00) on shares of Copart in a research note on Monday. Robert W. Baird set a $48.00 target price on shares of Copart and gave the stock an “outperform” rating in a research note on Friday. Finally, JPMorgan Chase & Co. lowered their price target on shares of Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $44.40.

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.