AIA Group Ltd Has $6.15 Million Holdings in Copart, Inc. $CPRT

AIA Group Ltd grew its position in Copart, Inc. (NASDAQ:CPRT) by 26.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 136,750 shares of the business services provider’s stock after acquiring an additional 28,557 shares during the period. AIA Group Ltd’s holdings in Copart were worth $6,150,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Cloud Capital Management LLC acquired a new position in shares of Copart in the third quarter valued at approximately $25,000. Tripletail Wealth Management LLC acquired a new stake in Copart during the 3rd quarter worth approximately $27,000. LRI Investments LLC grew 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 worth $29,000 after acquiring an additional 363 shares during the last quarter. Cornerstone Planning Group LLC grew 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 worth $31,000 after acquiring an additional 256 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in Copart in the 3rd quarter valued at approximately $36,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Price Performance

CPRT stock opened at $33.00 on Thursday. The company’s 50-day moving average is $38.42 and its 200-day moving average is $41.11. The stock has a market capitalization of $31.79 billion, a PE ratio of 20.63 and a beta of 1.09. Copart, Inc. has a 1 year low of $32.97 and a 1 year high of $63.85.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results 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). Copart had a return on equity of 16.68% and a net margin of 33.76%.The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the company posted $0.40 earnings per share. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on CPRT. Zacks Research downgraded 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 Copart and gave the company an “outperform” rating in a report on Friday, February 20th. CJS Securities raised Copart to a “strong-buy” rating in a research report on Thursday, December 11th. JPMorgan Chase & Co. cut their target price on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Finally, Barclays reiterated an “underweight” rating and issued a $32.00 price target (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Copart presently has a consensus rating of “Hold” and an average target price of $44.40.

Insiders Place Their Bets

In other Copart 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 transaction of $1,009,753.29. Following the transaction, the chief executive officer owned 55,970 shares in the company, valued at approximately $2,248,314.90. This represents a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 9.60% of the company’s stock.

Copart Company 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.