500,510 Shares in Copart, Inc. $CPRT Bought by Ninety One UK Ltd

Key Points

• Ninety One UK Ltd acquired a new 500,510-share position in Copart during Q4, valued at about $19.6 million and representing roughly 0.05% of the company.
• CEO Jeffrey Liaw sold 26,213 shares on April 15 at an average price of $33.18, reducing his stake by 24.79% to 79,532 shares; corporate insiders own 9.60% of Copart.
• Copart missed expectations for the quarter with EPS of $0.36 (vs. $0.39 expected) and revenue of $1.12B (vs. $1.15B expected, down 3.6% YoY); analysts are mixed, with a consensus rating of "Hold" and a $44.40 price target.

Ninety One UK Ltd acquired a new position in Copart, Inc. (NASDAQ:CPRT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 500,510 shares of the business services provider's stock, valued at approximately $19,595,000. Ninety One UK Ltd owned about 0.05% of Copart at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CPRT. Cloud Capital Management LLC purchased a new position in Copart in the third quarter worth $25,000. Lodestone Wealth Management LLC purchased a new position in Copart in the fourth quarter worth $25,000. Tripletail Wealth Management LLC purchased a new position in Copart in the third quarter worth $27,000. LRI Investments LLC boosted its position in Copart by 125.2% in the third quarter. LRI Investments LLC now owns 653 shares of the business services provider's stock worth $29,000 after purchasing an additional 363 shares during the last quarter. Finally, Cornerstone Planning Group LLC boosted its position in Copart by 54.0% in the third quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider's stock worth $31,000 after purchasing an additional 256 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company's stock.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 26,213 shares of the company's 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 transaction, the chief executive officer owned 79,532 shares of the company's stock, valued at $2,638,871.76. This represents a 24.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 9.60% of the stock is owned by corporate insiders.

Copart Price Performance

Shares of NASDAQ CPRT opened at $33.45 on Friday. Copart, Inc. has a one year low of $32.20 and a one year high of $63.85. The business's fifty day moving average price is $35.18 and its 200-day moving average price is $38.97. The stock has a market capitalization of $32.22 billion, a PE ratio of 20.91 and a beta of 1.14.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings results on Thursday, February 19th. The business services provider reported $0.36 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 firm had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.15 billion. During the same period in the prior year, the company earned $0.40 EPS. The firm's quarterly revenue was down 3.6% on a year-over-year basis. As a group, equities analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CPRT shares. Zacks Research cut Copart from a "hold" rating to a "strong sell" rating in a research report on Tuesday, February 24th. Robert W. Baird set a $48.00 price objective on Copart and gave the stock an "outperform" rating in a research report on Friday, February 20th. Weiss Ratings reissued a "hold (c-)" rating on shares of Copart in a research report on Monday, March 23rd. JPMorgan Chase & Co. dropped their price target on Copart from $45.00 to $34.00 and set a "neutral" rating on the stock in a research report on Monday, February 23rd. Finally, Barclays reaffirmed an "underweight" rating and set a $32.00 price target (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $44.40.

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.

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