Copart, Inc. $CPRT Shares Sold by ING Groep NV

ING Groep NV lessened its stake in Copart, Inc. (NASDAQ:CPRT) by 35.4% in the 4th quarter, Holdings Channel reports. The firm owned 107,087 shares of the business services provider’s stock after selling 58,566 shares during the period. ING Groep NV’s holdings in Copart were worth $4,192,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC increased its holdings in Copart by 1.3% in the 3rd quarter. Quadrant Capital Group LLC now owns 20,693 shares of the business services provider’s stock valued at $931,000 after purchasing an additional 264 shares during the last quarter. Sierra Legacy Group increased its holdings in Copart by 1.9% in the 4th quarter. Sierra Legacy Group now owns 13,880 shares of the business services provider’s stock valued at $543,000 after purchasing an additional 265 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in Copart by 23.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,384 shares of the business services provider’s stock valued at $68,000 after purchasing an additional 266 shares during the last quarter. Brown Miller Wealth Management LLC increased its holdings in Copart by 3.8% in the 4th quarter. Brown Miller Wealth Management LLC now owns 7,310 shares of the business services provider’s stock valued at $286,000 after purchasing an additional 268 shares during the last quarter. Finally, Valeo Financial Advisors LLC increased its holdings in Copart by 4.6% in the 4th quarter. Valeo Financial Advisors LLC now owns 6,395 shares of the business services provider’s stock valued at $250,000 after purchasing an additional 282 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Down 0.3%

Shares of CPRT stock opened at $30.86 on Tuesday. Copart, Inc. has a 52 week low of $29.97 and a 52 week high of $50.91. The stock has a market capitalization of $28.57 billion, a PE ratio of 19.17 and a beta of 1.01. The firm has a 50 day moving average of $32.99 and a two-hundred day moving average of $36.45.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. Copart had a net margin of 33.48% and a return on equity of 16.63%. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the company posted $0.42 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. Analysts expect that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total value of $869,747.34. Following the completion of the transaction, the chief executive officer owned 79,532 shares of the company’s stock, valued at $2,638,871.76. This trade represents a 24.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 9.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CPRT shares. Weiss Ratings downgraded shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Robert W. Baird set a $48.00 target price on shares of Copart and gave the company an “outperform” rating in a report on Friday, February 20th. JPMorgan Chase & Co. dropped their target price on shares of Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a report on Monday, February 23rd. Barclays reiterated an “underweight” rating and issued a $32.00 target price (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Finally, Jefferies Financial Group set a $45.00 target price on shares of Copart in a report on Friday, May 22nd. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Copart presently has an average rating of “Hold” and a consensus target price of $44.50.

Copart 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.