Taikang Asset Management Hong Kong Co Ltd Boosts Stock Holdings in Copart, Inc. $CPRT

Taikang Asset Management Hong Kong Co Ltd boosted its position in shares of Copart, Inc. (NASDAQ:CPRT) by 63.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,730 shares of the business services provider’s stock after buying an additional 22,314 shares during the period. Taikang Asset Management Hong Kong Co Ltd’s holdings in Copart were worth $3,267,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CPRT. Cloud Capital Management LLC purchased a new stake in Copart during the 1st quarter worth approximately $26,000. Sunbelt Securities Inc. purchased a new stake in Copart during the 4th quarter worth approximately $31,000. Accent Capital Management LLC purchased a new stake in Copart during the 1st quarter worth approximately $36,000. Financial Network Wealth Advisors LLC increased its stake in Copart by 152.6% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 783 shares of the business services provider’s stock worth $44,000 after buying an additional 473 shares in the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Copart during the 4th quarter worth approximately $45,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Jeffrey Liaw sold 24,088 shares of the company’s stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total value of $1,118,405.84. Following the transaction, the chief executive officer directly owned 31,527 shares in the company, valued at approximately $1,463,798.61. This represents a 43.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 9.68% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Robert W. Baird lowered their target price on Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, July 17th. Stephens assumed coverage on Copart in a report on Tuesday, July 8th. They set an “equal weight” rating and a $50.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered their target price on Copart from $60.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, May 23rd. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $53.33.

Copart Stock Performance

CPRT opened at $48.96 on Monday. Copart, Inc. has a one year low of $45.05 and a one year high of $64.38. The stock has a market capitalization of $47.34 billion, a PE ratio of 32.21 and a beta of 1.04. The business’s 50 day moving average price is $47.34 and its 200 day moving average price is $53.46.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. Copart had a return on equity of 18.20% and a net margin of 32.21%.The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the firm posted $0.39 earnings per share. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. As a group, equities research analysts forecast that Copart, Inc. will post 1.57 earnings per share 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.