Lombard Odier Asset Management Europe Ltd Sells 62,747 Shares of Copart, Inc. $CPRT

Lombard Odier Asset Management Europe Ltd decreased its holdings in Copart, Inc. (NASDAQ:CPRT) by 41.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 88,085 shares of the business services provider’s stock after selling 62,747 shares during the quarter. Lombard Odier Asset Management Europe Ltd’s holdings in Copart were worth $2,924,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CPRT. Cache Advisors LLC bought a new stake in shares of Copart during the 1st quarter valued at about $31,000. Reflection Asset Management bought a new position in Copart in the fourth quarter worth about $34,000. Triumph Capital Management lifted its holdings in Copart by 424.2% in the fourth quarter. Triumph Capital Management now owns 1,017 shares of the business services provider’s stock worth $40,000 after buying an additional 823 shares during the period. SJS Investment Consulting Inc. boosted its position in Copart by 129.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 1,350 shares of the business services provider’s stock valued at $45,000 after acquiring an additional 761 shares in the last quarter. Finally, DV Equities LLC bought a new stake in Copart during the 4th quarter valued at approximately $48,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Price Performance

Shares of CPRT opened at $29.12 on Monday. The stock has a market cap of $26.96 billion, a P/E ratio of 18.09 and a beta of 1.02. The business’s 50 day moving average price is $29.82 and its 200-day moving average price is $33.72. Copart, Inc. has a 52 week low of $26.81 and a 52 week high of $50.11.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.19 billion. Copart had a return on equity of 16.63% and a net margin of 33.48%.During the same quarter last year, the company earned $0.42 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities analysts anticipate that Copart, Inc. will post 1.58 EPS for the current year.

Wall Street Analysts Forecast Growth

CPRT has been the subject of several research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Copart in a research report on Wednesday. Freedom Capital raised Copart to a “strong-buy” rating in a research note on Friday, June 26th. Barclays set a $26.00 price objective on Copart and gave the stock an “underweight” rating in a report on Tuesday, July 21st. Jefferies Financial Group set a $45.00 target price on shares of Copart in a report on Friday, May 22nd. Finally, Zacks Research downgraded shares of Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Three research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $43.50.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 27,745 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total transaction of $845,945.05. Following the completion of the transaction, the chief executive officer directly owned 99,641 shares in the company, valued at $3,038,054.09. This trade represents a 21.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 9.60% of the company’s stock.

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.