Deutsche Bank AG Buys 4,823,111 Shares of Copart, Inc. $CPRT

Deutsche Bank AG increased its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 94.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,955,661 shares of the business services provider’s stock after buying an additional 4,823,111 shares during the quarter. Deutsche Bank AG owned 1.03% of Copart worth $389,764,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CPRT. Brighton Jones LLC lifted its position in shares of Copart by 92.1% during the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock worth $816,000 after buying an additional 6,817 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Copart by 365.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock worth $63,000 after buying an additional 878 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Copart during the 2nd quarter worth $2,677,000. Sei Investments Co. lifted its position in shares of Copart by 110.0% during the 2nd quarter. Sei Investments Co. now owns 900,330 shares of the business services provider’s stock worth $44,179,000 after buying an additional 471,571 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its position in shares of Copart by 3.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 413,083 shares of the business services provider’s stock worth $20,270,000 after buying an additional 13,860 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CPRT has been the subject of several recent analyst reports. Weiss Ratings downgraded Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. dropped their price objective on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research report on Monday, February 23rd. Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Barclays reaffirmed an “underweight” rating and issued a $32.00 target price (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Finally, Robert W. Baird set a $48.00 target price on Copart and gave the stock an “outperform” rating in a report on Friday, February 20th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $44.50.

Copart Trading Up 0.2%

Shares of CPRT stock opened at $31.36 on Thursday. The stock has a market cap of $29.03 billion, a price-to-earnings ratio of 19.48 and a beta of 1.00. The stock has a 50-day moving average of $32.94 and a 200-day moving average of $36.31. Copart, Inc. has a 1-year low of $29.97 and a 1-year high of $50.91.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.02. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Copart had a return on equity of 16.63% and a net margin of 33.48%.The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.42 earnings per share. Sell-side analysts forecast that Copart, Inc. will post 1.58 earnings per share for the current year.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 26,213 shares of the stock in a transaction dated Wednesday, April 15th. The stock was 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 of the company’s stock, valued at approximately $2,638,871.76. This represents a 24.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 9.60% of the company’s stock.

Copart 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.