Copart, Inc. $CPRT Stock: Ninety One SA Pty Ltd Trims Holdings

Ninety One SA Pty Ltd trimmed its holdings in Copart, Inc. (NASDAQ:CPRT) by 43.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,231 shares of the business services provider’s stock after selling 18,553 shares during the quarter. Ninety One SA Pty Ltd’s holdings in Copart were worth $661,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. State of Alaska Department of Revenue lifted its holdings in Copart by 126.8% in the third quarter. State of Alaska Department of Revenue now owns 251,028 shares of the business services provider’s stock worth $6,848,000 after purchasing an additional 140,339 shares during the period. Chiron Capital Management LLC grew its position in Copart by 44.9% in the 3rd quarter. Chiron Capital Management LLC now owns 16,376 shares of the business services provider’s stock valued at $447,000 after buying an additional 5,076 shares in the last quarter. Ashurst Perkins Coie Trust Co grew its position in Copart by 155.1% in the 3rd quarter. Ashurst Perkins Coie Trust Co now owns 2,020 shares of the business services provider’s stock valued at $55,000 after buying an additional 1,228 shares in the last quarter. Lipe & Dalton acquired a new position in Copart during the 3rd quarter valued at about $695,000. Finally, William Allan Corp increased its stake in Copart by 26.4% during the 3rd quarter. William Allan Corp now owns 37,460 shares of the business services provider’s stock valued at $1,022,000 after buying an additional 7,823 shares during the period. 85.78% of the stock is owned by institutional investors.

Copart Price Performance

Shares of Copart stock traded up $1.34 during trading on Thursday, hitting $27.61. The stock had a trading volume of 6,740,265 shares, compared to its average volume of 10,147,423. The business has a fifty day moving average of $30.15 and a two-hundred day moving average of $30.87. Copart, Inc. has a fifty-two week low of $25.72 and a fifty-two week high of $45.89. The firm has a market cap of $25.58 billion, a P/E ratio of 17.78, a PEG ratio of 1.29 and a beta of 1.06.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, September 10th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. Copart had a return on equity of 15.93% and a net margin of 31.81%. Copart’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.41 earnings per share. As a group, research analysts forecast that Copart, Inc. will post 1.63 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Jeffrey Liaw sold 27,745 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were 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 owned 99,641 shares in the company, valued at approximately $3,038,054.09. This trade represents a 21.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 9.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. HSBC downgraded shares of Copart from a “buy” rating to a “hold” rating and set a $36.00 price target on the stock. in a research report on Wednesday, September 16th. Freedom Broker decreased their price objective on shares of Copart from $39.00 to $36.00 and set a “buy” rating for the company in a report on Monday, September 14th. Barrington Research upgraded shares of Copart from a “market perform” rating to an “outperform” rating and set a $40.00 price objective on the stock in a research note on Friday, September 11th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Copart in a research note on Wednesday, July 29th. Finally, Barclays set a $25.00 target price on Copart and gave the stock an “underweight” rating in a report on Wednesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.80.

About Copart

Copart, Inc is a global provider of online vehicle auction and remarketing services. The company primarily sells vehicles that have been damaged, totaled, recovered from theft, or otherwise deemed uneconomical to repair. Its customers include insurance companies, automobile dealers, dismantlers, rebuilders, exporters, rental and finance companies, and members of the general public.

Copart conducts auctions through its online VB3 platform, which connects buyers with vehicles listed at the company’s facilities.