Citigroup Inc. Has $42.09 Million Holdings in Copart, Inc. $CPRT

Citigroup Inc. lessened its position in shares of Copart, Inc. (NASDAQ:CPRT) by 40.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 935,949 shares of the business services provider’s stock after selling 639,106 shares during the period. Citigroup Inc.’s holdings in Copart were worth $42,090,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Copart by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 108,990,652 shares of the business services provider’s stock worth $4,901,310,000 after acquiring an additional 2,581,784 shares in the last quarter. Principal Financial Group Inc. grew its stake in Copart by 3.2% during the third quarter. Principal Financial Group Inc. now owns 40,175,058 shares of the business services provider’s stock worth $1,806,674,000 after purchasing an additional 1,236,101 shares during the period. State Street Corp increased its holdings in Copart by 3.3% in the second quarter. State Street Corp now owns 36,406,503 shares of the business services provider’s stock worth $1,786,467,000 after purchasing an additional 1,167,265 shares in the last quarter. Geode Capital Management LLC lifted its stake in Copart by 3.3% in the second quarter. Geode Capital Management LLC now owns 20,462,076 shares of the business services provider’s stock valued at $999,305,000 after buying an additional 656,333 shares during the period. Finally, Norges Bank bought a new position in shares of Copart during the 2nd quarter worth approximately $549,448,000. Institutional investors own 85.78% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on CPRT shares. JPMorgan Chase & Co. lowered their price objective on shares of Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday. CJS Securities raised shares of Copart to a “strong-buy” rating in a research note on Thursday, December 11th. Barclays reissued an “underweight” rating and set a $32.00 price objective (down from $33.00) on shares of Copart in a research report on Monday. Finally, Robert W. Baird set a $48.00 target price on Copart and gave the company an “outperform” rating in a research note on Friday. Two research 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $44.40.

Copart Trading Down 0.2%

NASDAQ CPRT opened at $35.28 on Wednesday. The business has a fifty day simple moving average of $39.30 and a 200 day simple moving average of $42.37. Copart, Inc. has a 12 month low of $33.81 and a 12 month high of $63.85. The firm has a market capitalization of $34.15 billion, a P/E ratio of 22.05 and a beta of 1.08.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.03). The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.15 billion. Copart had a return on equity of 16.68% and a net margin of 33.76%.The business’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.40 EPS. As a group, sell-side analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of the stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $40.17, for a total value of $1,009,753.29. Following the completion of the sale, the chief executive officer owned 55,970 shares in the company, valued at approximately $2,248,314.90. This trade represents a 30.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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.