Groupama Asset Managment Cuts Stake in Copart, Inc. $CPRT

Groupama Asset Managment cut its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 70.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 9,859 shares of the business services provider’s stock after selling 23,662 shares during the period. Groupama Asset Managment’s holdings in Copart were worth $443,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cloud Capital Management LLC purchased a new stake in shares of Copart during the third quarter worth $25,000. Tripletail Wealth Management LLC purchased a new position in Copart in the third quarter valued at $27,000. LRI Investments LLC boosted its holdings in Copart by 125.2% in the third quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 363 shares during the period. Cornerstone Planning Group LLC grew its stake in Copart by 54.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock worth $31,000 after purchasing an additional 256 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. increased its holdings in Copart by 173.4% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 864 shares of the business services provider’s stock worth $39,000 after purchasing an additional 548 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 55,970 shares in the company, valued at $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 SEC, which is available at this hyperlink. 9.60% of the stock is owned by company insiders.

Copart Price Performance

Shares of NASDAQ CPRT opened at $32.84 on Friday. The business has a 50-day moving average of $38.15 and a two-hundred day moving average of $40.89. The company has a market capitalization of $31.63 billion, a price-to-earnings ratio of 20.52 and a beta of 1.09. Copart, Inc. has a 1 year low of $32.20 and a 1 year high of $63.85.

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

Analyst Upgrades and Downgrades

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

Copart 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.