Fideuram Intesa Sanpaolo Private Banking S.P.A. Invests $1.29 Million in Copart, Inc. $CPRT

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Copart, Inc. (NASDAQ:CPRT) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 32,825 shares of the business services provider’s stock, valued at approximately $1,285,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Hollencrest Capital Management raised its holdings in Copart by 13.2% during the third quarter. Hollencrest Capital Management now owns 2,088 shares of the business services provider’s stock worth $94,000 after purchasing an additional 244 shares in the last quarter. Howard Capital Management Inc. boosted its holdings 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 valued at $1,087,000 after buying an additional 253 shares in the last quarter. Cornerstone Planning Group LLC boosted its holdings in shares of Copart by 54.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock valued at $31,000 after buying an additional 256 shares in the last quarter. Quadrant Capital Group LLC grew its position in shares of Copart by 1.3% in the 3rd quarter. Quadrant Capital Group LLC now owns 20,693 shares of the business services provider’s stock valued at $931,000 after buying an additional 264 shares during the last quarter. Finally, Sierra Legacy Group grew its position in shares of Copart by 1.9% in the 4th quarter. Sierra Legacy Group now owns 13,880 shares of the business services provider’s stock valued at $543,000 after buying an additional 265 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

CPRT has been the subject of several research analyst reports. Weiss Ratings downgraded shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Robert W. Baird set a $48.00 target price on Copart and gave the stock an “outperform” rating in a research report on Friday, February 20th. JPMorgan Chase & Co. decreased their target price on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research report on Monday, February 23rd. Barclays restated an “underweight” rating and set a $32.00 price target (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. Finally, Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $44.40.

Insider Buying and Selling

In other news, CEO Jeffrey Liaw sold 26,213 shares of the firm’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total value of $869,747.34. Following the completion of the sale, the chief executive officer owned 79,532 shares in the company, valued at approximately $2,638,871.76. This trade represents a 24.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 9.60% of the company’s stock.

Copart Stock Performance

NASDAQ CPRT opened at $34.40 on Friday. The firm’s fifty day moving average is $33.32 and its two-hundred day moving average is $37.23. Copart, Inc. has a one year low of $32.20 and a one year high of $61.24. The firm has a market cap of $33.14 billion, a PE ratio of 21.50 and a beta of 1.02.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.19 billion. Copart had a return on equity of 16.68% and a net margin of 33.76%.The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company posted $0.42 earnings per share. Research analysts predict that Copart, Inc. will post 1.57 earnings per share for the current 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.