Copart, Inc. $CPRT Stake Lifted by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 41.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,917,094 shares of the business services provider’s stock after acquiring an additional 1,151,475 shares during the quarter. Assenagon Asset Management S.A. owned about 0.40% of Copart worth $153,354,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cloud Capital Management LLC acquired a new position in shares of Copart during the 3rd quarter valued at $25,000. Tripletail Wealth Management LLC acquired a new stake in shares of Copart in the third quarter valued at $27,000. LRI Investments LLC lifted its holdings in shares of 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 during the period. Cornerstone Planning Group LLC boosted 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 valued at $31,000 after buying an additional 256 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in Copart during the third quarter worth about $36,000. Institutional investors own 85.78% of the company’s stock.

Analysts Set New Price Targets

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

Copart Stock Up 1.6%

NASDAQ:CPRT opened at $33.39 on Tuesday. The stock has a fifty day simple moving average of $38.02 and a 200 day simple moving average of $40.72. The firm has a market capitalization of $32.16 billion, a price-to-earnings ratio of 20.87 and a beta of 1.09. Copart, Inc. has a 1-year low of $32.20 and a 1-year 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 (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.03). Copart had a return on equity of 16.68% and a net margin of 33.76%.The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the firm posted $0.40 EPS. Copart’s quarterly revenue was down 3.6% on a year-over-year basis. Equities analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Activity

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of Copart 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 transaction, the chief executive officer directly owned 55,970 shares in the company, valued at approximately $2,248,314.90. The trade was a 30.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 9.60% of the stock is owned by corporate insiders.

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.