Boston Advisors LLC lowered its stake in shares of Copart Inc. (NASDAQ:CPRT) by 50.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 198,370 shares of the company’s stock after selling 198,205 shares during the period. Boston Advisors LLC’s holdings in Copart were worth $9,722,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased its stake in shares of Copart by 16.9% in the first quarter. Goldman Sachs Group Inc. now owns 307,772 shares of the company’s stock valued at $12,548,000 after buying an additional 44,468 shares in the last quarter. Norges Bank acquired a new stake in shares of Copart during the fourth quarter valued at about $39,489,000. British Airways Pensions Investment Management Ltd acquired a new stake in shares of Copart during the second quarter valued at about $12,096,000. Royal Bank of Canada increased its stake in shares of Copart by 3.1% in the first quarter. Royal Bank of Canada now owns 480,158 shares of the company’s stock valued at $19,577,000 after buying an additional 14,257 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Copart by 27.5% in the first quarter. JPMorgan Chase & Co. now owns 89,645 shares of the company’s stock valued at $3,655,000 after buying an additional 19,317 shares in the last quarter. 83.65% of the stock is owned by institutional investors and hedge funds.
Shares of Copart Inc. (NASDAQ:CPRT) traded down 0.74% on Monday, hitting $53.65. The stock had a trading volume of 649,319 shares. Copart Inc. has a one year low of $32.26 and a one year high of $54.85. The stock has a market capitalization of $5.88 billion, a PE ratio of 24.28 and a beta of 0.99. The firm’s 50 day moving average is $51.39 and its 200-day moving average is $47.09.
Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Tuesday, September 20th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. Copart had a return on equity of 28.32% and a net margin of 19.93%. The business earned $332.70 million during the quarter. During the same period last year, the firm earned $0.41 earnings per share. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. Equities research analysts expect that Copart Inc. will post $2.41 earnings per share for the current fiscal year.
CPRT has been the subject of several research analyst reports. Zacks Investment Research raised Copart from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research note on Monday. Stephens set a $61.00 price objective on Copart and gave the stock a “buy” rating in a research note on Thursday. Bank of America Corp. raised Copart from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $52.00 to $63.00 in a research note on Friday. Jefferies Group reissued a “hold” rating on shares of Copart in a research note on Thursday, August 4th. Finally, Barrington Research downgraded Copart from an “outperform” rating to a “market perform” rating in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $55.57.
In other Copart news, SVP Robert H. Vannuccini sold 12,577 shares of the business’s stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $49.96, for a total value of $628,346.92. Following the completion of the transaction, the senior vice president now directly owns 9,703 shares of the company’s stock, valued at $484,761.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Paul A. Styer sold 7,640 shares of the business’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $49.26, for a total value of $376,346.40. The disclosure for this sale can be found here. Corporate insiders own 19.40% of the company’s stock.
Copart Company Profile
Copart, Inc is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain and Brazil. The Company also provides vehicle remarketing services in Germany and Spain. It provides vehicle sellers with services to process and sell vehicles primarily over the Internet through its virtual bidding third generation Internet auction-style sales technology (VB3).
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