Robeco Institutional Asset Management B.V. Sells 133,707 Shares of Copart, Inc. $CPRT

Robeco Institutional Asset Management B.V. lowered its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 75.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 44,631 shares of the business services provider’s stock after selling 133,707 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Copart were worth $2,190,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. GC Wealth Management RIA LLC acquired a new position in shares of Copart during the second quarter valued at about $219,000. Sowell Financial Services LLC acquired a new position in shares of Copart during the first quarter valued at about $604,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of Copart by 52.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 23,862 shares of the business services provider’s stock valued at $1,350,000 after purchasing an additional 8,181 shares during the period. Handelsbanken Fonder AB raised its holdings in shares of Copart by 53.3% during the first quarter. Handelsbanken Fonder AB now owns 854,336 shares of the business services provider’s stock valued at $48,347,000 after purchasing an additional 297,210 shares during the period. Finally, Private Trust Co. NA raised its holdings in shares of Copart by 16.5% during the first quarter. Private Trust Co. NA now owns 4,142 shares of the business services provider’s stock valued at $234,000 after purchasing an additional 586 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Transactions at Copart

In other news, CEO Jeffrey Liaw sold 24,088 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the completion of the transaction, the chief executive officer directly owned 31,527 shares of the company’s stock, valued at $1,463,798.61. This represents a 43.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas N. Tryforos sold 228,840 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $47.54, for a total transaction of $10,879,053.60. The disclosure for this sale can be found here. Corporate insiders own 9.68% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CPRT. Weiss Ratings reiterated a “hold (c)” rating on shares of Copart in a report on Saturday, September 27th. Stephens lowered their target price on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a report on Friday, September 5th. HSBC set a $62.00 target price on shares of Copart and gave the stock a “buy” rating in a report on Thursday, September 4th. Robert W. Baird lowered their target price on shares of Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, July 17th. Finally, Hsbc Global Res upgraded shares of Copart from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $54.50.

Copart Stock Performance

Shares of CPRT stock opened at $44.23 on Wednesday. Copart, Inc. has a 52-week low of $44.12 and a 52-week high of $64.38. The company has a 50-day simple moving average of $46.89 and a two-hundred day simple moving average of $51.49. The company has a market capitalization of $42.80 billion, a price-to-earnings ratio of 27.64 and a beta of 1.03.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. Copart had a net margin of 33.41% and a return on equity of 18.17%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the firm posted $0.33 EPS. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, sell-side analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Copart 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.