Aigen Investment Management LP Acquires Shares of 63,354 Copart, Inc. $CPRT

Aigen Investment Management LP purchased a new position in Copart, Inc. (NASDAQ:CPRT) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 63,354 shares of the business services provider’s stock, valued at approximately $2,480,000.

Other large investors have also recently made changes to their positions in the company. Lodestone Wealth Management LLC bought a new position in shares of Copart in the fourth quarter worth $25,000. Aventura Private Wealth LLC bought a new position in shares of Copart in the fourth quarter worth $33,000. Board of the Pension Protection Fund bought a new position in shares of Copart in the fourth quarter worth $35,000. FNY Investment Advisers LLC bought a new position in shares of Copart in the third quarter worth $36,000. Finally, Triumph Capital Management boosted its holdings in shares of Copart by 424.2% in the fourth quarter. Triumph Capital Management now owns 1,017 shares of the business services provider’s stock worth $40,000 after acquiring an additional 823 shares during the period. 85.78% of the stock is owned by institutional investors.

Copart Stock Down 1.0%

NASDAQ CPRT opened at $30.75 on Friday. The stock’s 50-day simple moving average is $32.85 and its two-hundred day simple moving average is $36.20. Copart, Inc. has a twelve month low of $29.97 and a twelve month high of $50.11. The company has a market capitalization of $28.47 billion, a price-to-earnings ratio of 19.10 and a beta of 1.00.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Robert W. Baird set a $48.00 price target on Copart and gave the stock an “outperform” rating in a report on Friday, February 20th. JPMorgan Chase & Co. cut their price target on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a report on Monday, February 23rd. Zacks Research raised Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Barclays reiterated an “underweight” rating and issued a $32.00 price objective (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Finally, Jefferies Financial Group set a $45.00 price objective on Copart in a research report on Friday, May 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Copart currently has an average rating of “Hold” and an average target price of $44.50.

Insider Activity

In other news, CEO Jeffrey Liaw sold 26,213 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the transaction, the chief executive officer directly owned 79,532 shares of the company’s stock, valued at approximately $2,638,871.76. This trade represents a 24.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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.