Pinebridge Investments LLC Takes $1.39 Million Position in Copart, Inc. $CPRT

Pinebridge Investments LLC purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,520 shares of the business services provider’s stock, valued at approximately $1,391,000.

Other institutional investors have also bought and sold shares of the company. Nordea Investment Management AB grew its holdings in Copart by 4.1% during the fourth quarter. Nordea Investment Management AB now owns 798,087 shares of the business services provider’s stock worth $31,353,000 after buying an additional 31,658 shares in the last quarter. Comgest Global Investors S.A.S. grew its holdings in Copart by 7.2% during the third quarter. Comgest Global Investors S.A.S. now owns 3,181,919 shares of the business services provider’s stock worth $143,091,000 after buying an additional 212,520 shares in the last quarter. Davidson Kahn Capital Management LLC grew its holdings in Copart by 56.3% during the fourth quarter. Davidson Kahn Capital Management LLC now owns 100,151 shares of the business services provider’s stock worth $3,921,000 after buying an additional 36,091 shares in the last quarter. Gotham Asset Management LLC grew its holdings in Copart by 193.6% during the third quarter. Gotham Asset Management LLC now owns 944,876 shares of the business services provider’s stock worth $42,491,000 after buying an additional 623,012 shares in the last quarter. Finally, Integrated Wealth Concepts LLC grew its holdings in Copart by 21.0% during the third quarter. Integrated Wealth Concepts LLC now owns 249,396 shares of the business services provider’s stock worth $11,215,000 after buying an additional 43,292 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Analyst Ratings Changes

CPRT has been the subject of a number of recent analyst reports. Robert W. Baird set a $48.00 price objective on Copart and gave the company an “outperform” rating in a research note on Friday, February 20th. Weiss Ratings downgraded Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Jefferies Financial Group set a $45.00 price objective on Copart in a research note on Friday, May 22nd. Finally, Barclays restated an “underweight” rating and issued a $32.00 price objective (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $44.50.

Copart Price Performance

Shares of NASDAQ CPRT opened at $30.86 on Tuesday. Copart, Inc. has a one year low of $29.97 and a one year high of $50.91. The business’s fifty day moving average price is $32.99 and its 200-day moving average price is $36.45. The stock has a market capitalization of $28.57 billion, a PE ratio of 19.17 and a beta of 1.01.

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 analysts’ consensus estimates of $0.41 by $0.02. Copart had a return on equity of 16.63% and a net margin of 33.48%.The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the firm earned $0.42 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities analysts expect that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Insider Transactions at Copart

In related news, CEO Jeffrey Liaw sold 26,213 shares of the stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the sale, the chief executive officer owned 79,532 shares of the company’s stock, valued at approximately $2,638,871.76. This represents a 24.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 9.60% of the company’s stock.

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.