Baader Bank Aktiengesellschaft Sells 17,015 Shares of Copart, Inc. $CPRT

Baader Bank Aktiengesellschaft cut its position in Copart, Inc. (NASDAQ:CPRT) by 48.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 17,765 shares of the business services provider’s stock after selling 17,015 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in Copart were worth $790,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Copart by 13.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 371,603 shares of the business services provider’s stock worth $16,711,000 after purchasing an additional 45,346 shares in the last quarter. Nordea Investment Management AB increased its holdings in Copart by 3.5% during the second quarter. Nordea Investment Management AB now owns 753,973 shares of the business services provider’s stock worth $36,153,000 after buying an additional 25,564 shares during the last quarter. California Public Employees Retirement System increased its holdings in Copart by 89.0% during the second quarter. California Public Employees Retirement System now owns 2,548,275 shares of the business services provider’s stock worth $125,044,000 after buying an additional 1,200,035 shares during the last quarter. Principal Financial Group Inc. raised its position in Copart by 3.2% during the third quarter. Principal Financial Group Inc. now owns 40,175,058 shares of the business services provider’s stock worth $1,806,674,000 after acquiring an additional 1,236,101 shares in the last quarter. Finally, Yacktman Asset Management LP acquired a new stake in Copart in the third quarter valued at $3,382,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analyst Ratings Changes

CPRT has been the topic of several recent analyst reports. Barclays restated an “underweight” rating and set a $33.00 price objective (up from $32.00) on shares of Copart in a research note on Friday, November 21st. JPMorgan Chase & Co. dropped their price objective on Copart from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday, November 24th. CJS Securities raised Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Robert W. Baird decreased their target price on Copart from $55.00 to $52.00 and set an “outperform” rating on the stock in a report on Friday, November 21st. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.60.

Copart Stock Performance

CPRT stock opened at $39.51 on Thursday. Copart, Inc. has a 52 week low of $37.41 and a 52 week high of $63.85. The company has a market capitalization of $38.25 billion, a PE ratio of 24.09 and a beta of 1.08. The company’s 50-day simple moving average is $39.64 and its 200 day simple moving average is $42.98.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, November 20th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Copart had a net margin of 34.24% and a return on equity of 17.78%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the firm posted $0.37 EPS. The business’s revenue for the quarter was up .7% compared to the same quarter last year. On average, analysts forecast that Copart, Inc. will post 1.57 EPS for the current year.

Insider Activity at Copart

In related news, Director Thomas N. Tryforos sold 100,000 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $39.07, for a total transaction of $3,907,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jeffrey Liaw sold 25,137 shares of Copart stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 55,970 shares of the company’s stock, valued at $2,248,314.90. This represents a 30.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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.