Copart, Inc. $CPRT Stake Reduced by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 6.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,191,737 shares of the business services provider’s stock after selling 937,890 shares during the period. JPMorgan Chase & Co. owned approximately 1.36% of Copart worth $593,232,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in CPRT. Stephens Inc. AR lifted its position in shares of Copart by 0.7% during the 2nd quarter. Stephens Inc. AR now owns 30,312 shares of the business services provider’s stock valued at $1,487,000 after acquiring an additional 218 shares during the last quarter. Allworth Financial LP raised its position in shares of Copart by 0.8% during the second quarter. Allworth Financial LP now owns 28,978 shares of the business services provider’s stock worth $1,422,000 after purchasing an additional 228 shares during the period. PDS Planning Inc lifted its holdings in shares of Copart by 4.9% during the third quarter. PDS Planning Inc now owns 5,196 shares of the business services provider’s stock valued at $234,000 after purchasing an additional 242 shares during the last quarter. Hollencrest Capital Management boosted its position in shares of Copart by 13.2% in the 3rd quarter. Hollencrest Capital Management now owns 2,088 shares of the business services provider’s stock valued at $94,000 after purchasing an additional 244 shares during the period. Finally, Unique Wealth LLC increased its stake in Copart by 2.3% in the 3rd quarter. Unique Wealth LLC now owns 10,785 shares of the business services provider’s stock worth $485,000 after purchasing an additional 245 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CPRT has been the subject of a number of analyst reports. Robert W. Baird reduced their price objective on shares of Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, November 21st. CJS Securities raised shares of Copart to a “strong-buy” rating in a research note on Thursday, December 11th. JPMorgan Chase & Co. cut their target price on shares of Copart from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday, November 24th. Finally, Barclays restated an “underweight” rating and issued a $33.00 target price (up previously from $32.00) on shares of Copart in a report on Friday, November 21st. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.60.

Insider Transactions at Copart

In other Copart news, Director Thomas N. Tryforos sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total value of $3,907,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey Liaw sold 25,137 shares of the firm’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the transaction, the chief executive officer owned 55,970 shares in the company, valued at $2,248,314.90. This represents a 30.99% decrease in their position. The SEC filing for this sale provides additional information. 9.60% of the stock is owned by company insiders.

Copart Stock Up 0.6%

Shares of NASDAQ:CPRT opened at $37.75 on Thursday. The firm has a fifty day moving average of $39.51 and a two-hundred day moving average of $42.69. Copart, Inc. has a 12-month low of $36.52 and a 12-month high of $63.85. The firm has a market capitalization of $36.54 billion, a P/E ratio of 23.02 and a beta of 1.08.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, November 20th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. Copart had a return on equity of 17.78% and a net margin of 34.24%.The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period last year, the company earned $0.37 earnings per share. Copart’s quarterly revenue was up .7% compared to the same quarter last year. Equities research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

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.