Clearbridge Investments LLC Has $76.28 Million Stock Holdings in Copart, Inc. $CPRT

Clearbridge Investments LLC lessened its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 2.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,948,441 shares of the business services provider’s stock after selling 43,743 shares during the quarter. Clearbridge Investments LLC owned about 0.20% of Copart worth $76,281,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in Copart in the 4th quarter worth about $569,569,000. Capital World Investors raised its stake in Copart by 25.1% in the 4th quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock worth $1,085,588,000 after purchasing an additional 5,555,101 shares in the last quarter. Capital International Investors acquired a new stake in Copart in the 4th quarter worth about $195,637,000. Bank of New York Mellon Corp raised its stake in Copart by 21.7% in the 4th quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock worth $860,618,000 after purchasing an additional 3,918,610 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in Copart by 298.2% in the 3rd quarter. AQR Capital Management LLC now owns 4,887,359 shares of the business services provider’s stock worth $217,243,000 after purchasing an additional 3,660,031 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CPRT. Barclays reiterated an “underweight” rating and issued a $32.00 price objective (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. Weiss Ratings cut shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Zacks Research upgraded shares of Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. JPMorgan Chase & Co. dropped 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, February 23rd. Finally, Robert W. Baird set a $48.00 price objective on shares of Copart and gave the stock an “outperform” rating in a research note on Friday, February 20th. Two 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 given a Sell rating to the company. Based on data from MarketBeat, Copart has a consensus rating of “Hold” and a consensus target price of $44.50.

Copart Stock Down 0.3%

CPRT stock opened at $30.86 on Tuesday. Copart, Inc. has a 12 month low of $29.97 and a 12 month high of $50.91. The firm has a market cap of $28.57 billion, a P/E ratio of 19.17 and a beta of 1.01. The company’s 50-day moving average price is $32.99 and its two-hundred day moving average price is $36.45.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. Copart had a net margin of 33.48% and a return on equity of 16.63%. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the firm earned $0.42 EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities analysts predict that Copart, Inc. will post 1.58 EPS for the current year.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total value of $869,747.34. Following the transaction, the chief executive officer directly owned 79,532 shares of the company’s stock, valued at $2,638,871.76. This trade represents a 24.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.60% of the stock is currently owned by corporate insiders.

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.