AIA Group Ltd Has $6.15 Million Stake in Copart, Inc. $CPRT

AIA Group Ltd grew its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 26.4% in the third quarter, HoldingsChannel.com reports. The firm owned 136,750 shares of the business services provider’s stock after purchasing an additional 28,557 shares during the period. AIA Group Ltd’s holdings in Copart were worth $6,150,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PDS Planning Inc raised its position in Copart by 4.9% in the 3rd quarter. PDS Planning Inc now owns 5,196 shares of the business services provider’s stock valued at $234,000 after buying an additional 242 shares during the last quarter. Hollencrest Capital Management boosted its holdings in Copart by 13.2% during the 3rd quarter. Hollencrest Capital Management now owns 2,088 shares of the business services provider’s stock worth $94,000 after acquiring an additional 244 shares during the last quarter. Unique Wealth LLC grew its stake in shares of 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 acquiring an additional 245 shares in the last quarter. Howard Capital Management Inc. grew its stake in shares of Copart by 1.1% in the 3rd quarter. Howard Capital Management Inc. now owns 24,163 shares of the business services provider’s stock worth $1,087,000 after acquiring an additional 253 shares in the last quarter. Finally, Cornerstone Planning Group LLC raised its holdings in shares of Copart by 54.0% in the third quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 256 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Stock Performance

Shares of CPRT stock opened at $33.00 on Thursday. The firm has a market cap of $31.79 billion, a price-to-earnings ratio of 20.63 and a beta of 1.09. Copart, Inc. has a 52 week low of $32.97 and a 52 week high of $63.85. The firm’s 50-day simple moving average is $38.42 and its two-hundred day simple moving average is $41.11.

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Robert W. Baird set a $48.00 price target on shares of Copart and gave the company an “outperform” rating in a research report on Friday, February 20th. CJS Securities upgraded shares of Copart to a “strong-buy” rating in a research note on Thursday, December 11th. JPMorgan Chase & Co. dropped their target price on shares of Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, February 23rd. Zacks Research downgraded Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 24th. Finally, Barclays reaffirmed an “underweight” rating and issued a $32.00 target price (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $44.40.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of the stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the completion of the transaction, the chief executive officer directly owned 55,970 shares of the company’s stock, valued at approximately $2,248,314.90. This represents a 30.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.60% of the company’s stock.

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.