1,553,334 Shares in Copart, Inc. $CPRT Acquired by Douglass Winthrop Advisors LLC

Key Points

• Douglass Winthrop Advisors LLC acquired 1,553,334 shares of Copart, Inc., representing a stake valued at approximately $87.9 million, making it the 29th largest position in their portfolio.
• Several institutional investors, including Maren Capital LLC and AlphaQuest LLC, have recently increased their stakes in Copart, indicating growing interest from the investment community.
• Copart reported $1.21 billion in revenue for the last quarter with a net margin of 32.21%, and analysts have set a consensus target price of $53.33 for the stock.

Douglass Winthrop Advisors LLC bought a new stake in Copart, Inc. (NASDAQ:CPRT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,553,334 shares of the business services provider's stock, valued at approximately $87,903,000. Copart makes up about 1.7% of Douglass Winthrop Advisors LLC's investment portfolio, making the stock its 29th largest position. Douglass Winthrop Advisors LLC owned approximately 0.16% of Copart as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Maren Capital LLC increased its stake in Copart by 13.3% in the first quarter. Maren Capital LLC now owns 1,204,317 shares of the business services provider's stock valued at $68,152,000 after purchasing an additional 141,403 shares in the last quarter. AlphaQuest LLC increased its stake in Copart by 1,796.7% in the first quarter. AlphaQuest LLC now owns 11,399 shares of the business services provider's stock valued at $645,000 after purchasing an additional 10,798 shares in the last quarter. Allstate Corp increased its stake in Copart by 21.6% in the first quarter. Allstate Corp now owns 30,832 shares of the business services provider's stock valued at $1,745,000 after purchasing an additional 5,475 shares in the last quarter. 1832 Asset Management L.P. increased its stake in Copart by 0.3% in the first quarter. 1832 Asset Management L.P. now owns 75,955 shares of the business services provider's stock valued at $4,298,000 after purchasing an additional 264 shares in the last quarter. Finally, Compound Planning Inc. increased its stake in Copart by 13.2% in the first quarter. Compound Planning Inc. now owns 16,023 shares of the business services provider's stock valued at $907,000 after purchasing an additional 1,873 shares in the last quarter. Institutional investors own 85.78% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on CPRT shares. Stephens started coverage on shares of Copart in a research note on Tuesday, July 8th. They issued an "equal weight" rating and a $50.00 target price for the company. Robert W. Baird lowered their target price on shares of Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a research note on Thursday, July 17th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Copart presently has an average rating of "Hold" and a consensus target price of $53.33.

Insider Activity

In other news, CEO Jeffrey Liaw sold 24,088 shares of the stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the completion of the sale, the chief executive officer owned 31,527 shares of the company's stock, valued at $1,463,798.61. This represents a 43.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.68% of the stock is owned by corporate insiders.

Copart Stock Up 2.7%

Shares of CPRT stock opened at $48.96 on Friday. The firm has a fifty day moving average of $47.34 and a 200-day moving average of $53.53. Copart, Inc. has a 12-month low of $45.05 and a 12-month high of $64.38. The company has a market capitalization of $47.34 billion, a price-to-earnings ratio of 32.21 and a beta of 1.04.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. Copart had a net margin of 32.21% and a return on equity of 18.20%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the prior year, the firm earned $0.39 earnings per share. The firm's revenue was up 7.5% compared to the same quarter last year. On average, equities analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

About Copart

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.

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