Hsbc Holdings PLC Has $129.59 Million Stake in Copart, Inc. $CPRT

Hsbc Holdings PLC increased its position in Copart, Inc. (NASDAQ:CPRT) by 12.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,311,002 shares of the business services provider’s stock after purchasing an additional 361,417 shares during the period. Hsbc Holdings PLC owned approximately 0.34% of Copart worth $129,585,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Reflection Asset Management bought a new stake in Copart during the 4th quarter valued at $34,000. Tobam lifted its stake in shares of Copart by 1,556.1% in the fourth quarter. Tobam now owns 22,192 shares of the business services provider’s stock valued at $869,000 after buying an additional 20,852 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Copart by 564.8% during the fourth quarter. Pacer Advisors Inc. now owns 2,523,773 shares of the business services provider’s stock valued at $98,806,000 after buying an additional 2,144,147 shares during the last quarter. Copos Capital S.a r.l. acquired a new position in shares of Copart during the fourth quarter valued at about $459,000. Finally, MV Capital Management Inc. bought a new stake in shares of Copart during the fourth quarter worth about $49,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Activity

In other news, CEO Jeffrey Liaw sold 26,213 shares of Copart stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the sale, the chief executive officer directly owned 79,532 shares in the company, valued at $2,638,871.76. The trade was a 24.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.60% of the stock is currently owned by corporate insiders.

Copart Price Performance

Copart stock opened at $30.23 on Monday. Copart, Inc. has a 52 week low of $29.46 and a 52 week high of $50.11. The company’s 50 day moving average price is $32.55 and its two-hundred day moving average price is $35.87. The stock has a market cap of $27.99 billion, a P/E ratio of 18.78 and a beta of 1.01.

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

Analyst Upgrades and Downgrades

CPRT has been the topic of a number of analyst reports. Zacks Research upgraded shares of Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. JPMorgan Chase & Co. decreased their price objective on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a report on Monday, February 23rd. Weiss Ratings downgraded Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Barclays reaffirmed an “underweight” rating and set a $32.00 target price (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 target on Copart in a report on Friday, May 22nd. Two investment 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $44.50.

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.