Sienna Gestion Trims Stake in Copart, Inc. $CPRT

Sienna Gestion lowered its position in Copart, Inc. (NASDAQ:CPRT) by 91.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,402 shares of the business services provider’s stock after selling 140,739 shares during the period. Sienna Gestion’s holdings in Copart were worth $508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Cloud Capital Management LLC bought a new stake in shares of Copart during the 3rd quarter worth approximately $25,000. Tripletail Wealth Management LLC purchased a new position in Copart during the 3rd quarter valued at $27,000. LRI Investments LLC grew its position in Copart by 125.2% in the 3rd quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 363 shares during the last quarter. Cornerstone Planning Group LLC grew its position in Copart by 54.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 256 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. increased its stake in Copart by 173.4% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 864 shares of the business services provider’s stock worth $39,000 after purchasing an additional 548 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 25,137 shares of the business’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total value of $1,009,753.29. Following the completion of the transaction, the chief executive officer directly owned 55,970 shares of the company’s stock, valued at approximately $2,248,314.90. The trade was a 30.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 9.60% of the company’s stock.

Copart Stock Performance

NASDAQ CPRT opened at $37.72 on Monday. The company has a market cap of $36.34 billion, a PE ratio of 23.58 and a beta of 1.09. The firm’s 50 day moving average price is $39.07 and its 200-day moving average price is $41.83. Copart, Inc. has a 52-week low of $33.81 and a 52-week high of $63.85.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, February 19th. The business services provider reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.15 billion. Copart had a return on equity of 16.68% and a net margin of 33.76%.The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the firm earned $0.40 EPS. On average, analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.