30,322 Shares in Copart, Inc. $CPRT Bought by North Dakota State Investment Board

Key Points

• North Dakota State Investment Board initiated a new position in Copart, buying 30,322 shares worth about $1.19 million in the fourth quarter.
• Institutional ownership in Copart remains high, with several large investors increasing their stakes and 85.78% of the stock now held by institutions and hedge funds.
• Copart reported quarterly EPS of $0.36, missing analyst estimates, while revenue also came in below expectations at $1.12 billion; meanwhile, analysts currently have a Hold consensus rating with a $44.40 target price.

North Dakota State Investment Board acquired a new position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,322 shares of the business services provider's stock, valued at approximately $1,187,000.

A number of other large investors have also bought and sold shares of CPRT. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Copart by 13.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 371,603 shares of the business services provider's stock valued at $16,711,000 after buying an additional 45,346 shares in the last quarter. Nordea Investment Management AB grew its stake in Copart by 4.1% in the 4th quarter. Nordea Investment Management AB now owns 798,087 shares of the business services provider's stock worth $31,353,000 after buying an additional 31,658 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Copart by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 40,175,058 shares of the business services provider's stock worth $1,806,674,000 after purchasing an additional 1,236,101 shares in the last quarter. Yacktman Asset Management LP purchased a new stake in shares of Copart in the 3rd quarter worth about $3,382,000. Finally, Comgest Global Investors S.A.S. grew its position in shares of Copart by 7.2% in the 3rd quarter. Comgest Global Investors S.A.S. now owns 3,181,919 shares of the business services provider's stock worth $143,091,000 after buying an additional 212,520 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Copart

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 value 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 document filed with the SEC, which can be accessed through this hyperlink. 9.60% of the stock is currently owned by company insiders.

Copart Price Performance

Shares of CPRT opened at $33.12 on Wednesday. Copart, Inc. has a 1 year low of $32.20 and a 1 year high of $63.30. The company has a 50 day simple moving average of $33.45 and a two-hundred day simple moving average of $37.36. The firm has a market cap of $31.90 billion, a P/E ratio of 20.70 and a beta of 1.02.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings data on Thursday, February 19th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.03). Copart had a net margin of 33.76% and a return on equity of 16.68%. The company had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.15 billion. During the same period last year, the business earned $0.40 earnings per share. The company's quarterly revenue was down 3.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CPRT. Weiss Ratings downgraded shares of Copart from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, May 1st. 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. Zacks Research raised shares of Copart from a "strong sell" rating to a "hold" rating in a report on Monday, April 27th. JPMorgan Chase & Co. dropped their price target on shares of Copart from $45.00 to $34.00 and set a "neutral" rating on the stock in a report on Monday, February 23rd. Finally, Barclays reiterated an "underweight" rating and issued a $32.00 price objective (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Copart presently has a consensus rating of "Hold" and a consensus target price of $44.40.

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.

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