Copart, Inc. $CPRT Shares Purchased by BNP Paribas

BNP Paribas raised its position in Copart, Inc. (NASDAQ:CPRT) by 21,907.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,019 shares of the business services provider’s stock after purchasing an additional 54,769 shares during the quarter. BNP Paribas’ holdings in Copart were worth $2,460,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Cloud Capital Management LLC acquired a new stake in shares of Copart in the third quarter valued at $25,000. Tripletail Wealth Management LLC acquired a new position in Copart during the 3rd quarter worth about $27,000. LRI Investments LLC boosted its holdings in Copart by 125.2% during the 3rd quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 363 shares during the period. Cornerstone Planning Group LLC boosted its holdings in Copart by 54.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 256 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. grew its position in Copart by 173.4% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 864 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 548 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Zacks Research lowered shares of Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 24th. Robert W. Baird set a $48.00 price objective on shares of Copart and gave the company an “outperform” rating in a report on Friday, February 20th. Barclays reaffirmed an “underweight” rating and set a $32.00 target price (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. CJS Securities upgraded shares of Copart to a “strong-buy” rating in a report on Thursday, December 11th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research report on Monday, February 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $44.40.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The shares were 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 owned 55,970 shares in the company, valued at $2,248,314.90. The trade was a 30.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 9.60% of the stock is owned by company insiders.

Copart Price Performance

CPRT stock opened at $34.09 on Monday. The business’s 50-day moving average is $38.71 and its two-hundred day moving average is $41.38. The firm has a market capitalization of $32.84 billion, a P/E ratio of 21.31 and a beta of 1.09. Copart, Inc. has a 1 year low of $33.53 and a 1 year high of $63.85.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, February 19th. The business services provider reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.15 billion. Copart had a return on equity of 16.68% and a net margin of 33.76%.The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.40 earnings per share. On average, analysts expect 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.