Eschler Asset Management LLP Takes Position in Copart, Inc. $CPRT

Eschler Asset Management LLP purchased a new position in Copart, Inc. (NASDAQ:CPRT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 30,000 shares of the business services provider’s stock, valued at approximately $846,000. Copart comprises 1.5% of Eschler Asset Management LLP’s holdings, making the stock its 20th largest position.

Several other large investors also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Copart during the 2nd quarter valued at about $1,908,980,000. State Street Corp boosted its holdings in shares of Copart by 1.3% in the fourth quarter. State Street Corp now owns 37,555,437 shares of the business services provider’s stock worth $1,470,295,000 after buying an additional 492,506 shares during the last quarter. Capital World Investors grew its position in Copart by 25.1% during the fourth quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock valued at $1,085,588,000 after buying an additional 5,555,101 shares during the period. Geode Capital Management LLC increased its holdings in Copart by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 23,255,161 shares of the business services provider’s stock valued at $906,836,000 after buying an additional 131,703 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Copart by 21.7% during the fourth quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock valued at $860,618,000 after buying an additional 3,918,610 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Copart Price Performance

Shares of CPRT stock opened at $33.26 on Tuesday. Copart, Inc. has a one year low of $26.81 and a one year high of $50.11. The company’s fifty day moving average price is $29.55 and its 200-day moving average price is $32.62. The company has a market capitalization of $30.79 billion, a price-to-earnings ratio of 20.66 and a beta of 1.01.

Insider Transactions at Copart

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CPRT. Freedom Capital upgraded shares of Copart to a “strong-buy” rating in a research note on Friday, June 26th. Zacks Research cut Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. Jefferies Financial Group set a $45.00 target price on Copart in a research report on Friday, May 22nd. Stephens reissued an “equal weight” rating and set a $35.00 price target on shares of Copart in a report on Thursday, August 20th. Finally, Barclays set a $26.00 price target on Copart and gave the stock an “underweight” rating in a research report on Tuesday, July 21st. 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 issued a Sell rating to the stock. Based on data from MarketBeat, Copart currently has a consensus rating of “Hold” and a consensus price target of $41.67.

Copart Company 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.