Barclays PLC Sells 559,654 Shares of Copart, Inc. $CPRT

Barclays PLC reduced its stake in Copart, Inc. (NASDAQ:CPRT) by 6.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,739,257 shares of the business services provider’s stock after selling 559,654 shares during the quarter. Barclays PLC’s holdings in Copart were worth $302,992,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in CPRT. Lodestone Wealth Management LLC bought a new stake in shares of Copart in the 4th quarter worth approximately $25,000. Aventura Private Wealth LLC bought a new stake in shares of Copart in the 4th quarter worth approximately $33,000. Board of the Pension Protection Fund bought a new stake in shares of Copart in the 4th quarter worth approximately $35,000. FNY Investment Advisers LLC purchased a new stake in shares of Copart during the third quarter valued at approximately $36,000. Finally, Triumph Capital Management grew its holdings in shares of Copart by 424.2% during the fourth quarter. Triumph Capital Management now owns 1,017 shares of the business services provider’s stock valued at $40,000 after buying an additional 823 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on CPRT. Robert W. Baird set a $48.00 price target on shares of Copart and gave the company an “outperform” rating in a report on Friday, February 20th. Barclays reiterated an “underweight” rating and set a $32.00 price target (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Jefferies Financial Group set a $45.00 price target on shares of Copart in a report on Friday, May 22nd. Zacks Research upgraded shares of Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Finally, Weiss Ratings cut shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Two research 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 MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $44.50.

Insiders Place Their Bets

In related 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 transaction of $869,747.34. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 9.60% of the company’s stock.

Copart Price Performance

Shares of NASDAQ CPRT opened at $30.75 on Monday. The firm has a fifty day moving average price of $32.85 and a 200-day moving average price of $36.18. The stock has a market cap of $28.47 billion, a PE ratio of 19.10 and a beta of 1.01. Copart, Inc. has a 1 year low of $29.97 and a 1 year high of $50.11.

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, topping analysts’ consensus estimates of $0.41 by $0.02. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Copart had a net margin of 33.48% and a return on equity of 16.63%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 earnings per share. On average, research analysts expect that Copart, Inc. will post 1.58 EPS 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.