US Bancorp DE lowered its position in shares of Copart, Inc. (NASDAQ:CPRT – Free Report) by 21.2% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 1,311,210 shares of the business services provider’s stock after selling 353,730 shares during the quarter. US Bancorp DE owned about 0.27% of Copart worth $119,595,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Private Advisor Group LLC raised its stake in shares of Copart by 24.0% during the 2nd quarter. Private Advisor Group LLC now owns 12,438 shares of the business services provider’s stock valued at $1,128,000 after buying an additional 2,407 shares during the last quarter. Cetera Advisors LLC raised its stake in shares of Copart by 40.0% during the 2nd quarter. Cetera Advisors LLC now owns 5,642 shares of the business services provider’s stock valued at $515,000 after buying an additional 1,611 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Copart by 0.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,355,612 shares of the business services provider’s stock valued at $214,855,000 after buying an additional 14,942 shares during the last quarter. Citigroup Inc. raised its stake in shares of Copart by 14.5% during the 2nd quarter. Citigroup Inc. now owns 390,573 shares of the business services provider’s stock valued at $35,624,000 after buying an additional 49,516 shares during the last quarter. Finally, Financial Architects Inc purchased a new position in shares of Copart during the 2nd quarter valued at about $204,000. Institutional investors and hedge funds own 79.26% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on CPRT shares. Argus started coverage on Copart in a research note on Friday, September 8th. They set a “buy” rating and a $53.00 price objective for the company. StockNews.com upgraded Copart from a “hold” rating to a “buy” rating in a research note on Monday, October 30th. Robert W. Baird lifted their price target on Copart from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, September 15th. Finally, JPMorgan Chase & Co. lifted their price target on Copart from $39.50 to $41.00 in a research note on Monday, September 18th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Copart has a consensus rating of “Moderate Buy” and a consensus target price of $44.40.
Insider Buying and Selling
In related news, Director Stephen Fisher sold 160,000 shares of Copart stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $45.69, for a total value of $7,310,400.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Matt Blunt sold 49,435 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $43.11, for a total transaction of $2,131,142.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stephen Fisher sold 160,000 shares of the business’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $45.69, for a total value of $7,310,400.00. The disclosure for this sale can be found here. 10.23% of the stock is currently owned by insiders.
Copart Price Performance
CPRT stock traded up $0.39 during trading on Thursday, hitting $49.61. The stock had a trading volume of 568,580 shares, compared to its average volume of 4,019,509. Copart, Inc. has a twelve month low of $29.61 and a twelve month high of $50.00. The stock has a market capitalization of $47.63 billion, a P/E ratio of 38.45 and a beta of 1.19. The company’s 50-day moving average price is $44.84 and its two-hundred day moving average price is $46.29.
Copart (NASDAQ:CPRT – Get Free Report) last posted its quarterly earnings data on Thursday, September 14th. The business services provider reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.02. Copart had a return on equity of 22.46% and a net margin of 31.99%. The company had revenue of $997.59 million for the quarter, compared to analysts’ expectations of $962.91 million. During the same period in the previous year, the firm posted $0.28 EPS. Copart’s revenue was up 12.9% compared to the same quarter last year. As a group, sell-side analysts expect that Copart, Inc. will post 1.42 EPS for the current fiscal year.
Copart Company Profile
Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.
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