AG2R LA Mondiale Gestion D Actifs Makes New Investment in Copart, Inc. $CPRT

Key Points

• AG2R LA Mondiale Gestion D Actifs has acquired 32,379 shares of Copart, Inc. valued at approximately $1.67 million, marking a new investment in the company during the first quarter.
• CEO Jeffrey Liaw sold 24,088 shares at an average price of $46.43, representing a 43.31% decrease in his ownership.
• Copart reported earnings of $0.41 per share for the last quarter, surpassing estimates, and had a market capitalization of $46.80 billion.

AG2R LA Mondiale Gestion D Actifs bought a new position 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 32,379 shares of the business services provider's stock, valued at approximately $1,667,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Cloud Capital Management LLC bought a new stake in Copart in the first quarter valued at approximately $26,000. Sunbelt Securities Inc. bought a new position in shares of Copart during the fourth quarter valued at approximately $31,000. Accent Capital Management LLC bought a new position in shares of Copart during the first quarter valued at approximately $36,000. Financial Network Wealth Advisors LLC raised its holdings in Copart by 152.6% in the first quarter. Financial Network Wealth Advisors LLC now owns 783 shares of the business services provider's stock worth $44,000 after purchasing an additional 473 shares in the last quarter. Finally, SouthState Corp bought a new position in Copart in the first quarter worth $45,000. Hedge funds and other institutional investors own 85.78% of the company's stock.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of the firm's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total value of $1,118,405.84. Following the transaction, the chief executive officer directly owned 31,527 shares of the company's stock, valued at approximately $1,463,798.61. This trade represents a 43.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 9.68% of the company's stock.

Copart Stock Performance

Shares of NASDAQ:CPRT opened at $48.40 on Friday. The stock has a market capitalization of $46.80 billion, a price-to-earnings ratio of 30.25 and a beta of 1.03. The stock's 50-day simple moving average is $47.39 and its two-hundred day simple moving average is $52.47. Copart, Inc. has a 52-week low of $45.05 and a 52-week high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last announced its earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.04. The business had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.14 billion. Copart had a return on equity of 18.17% and a net margin of 33.41%.The business's revenue for the quarter was up 2.9% on a year-over-year basis. During the same period last year, the firm posted $0.33 earnings per share. As a group, equities analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CPRT. Hsbc Global Res raised Copart from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 4th. JPMorgan Chase & Co. reduced their price target on Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. HSBC set a $62.00 price target on Copart and gave the company a "buy" rating in a report on Thursday, September 4th. Stephens reduced their price target on Copart from $50.00 to $46.00 and set an "equal weight" rating for the company in a report on Friday, September 5th. Finally, Robert W. Baird reduced their price target on Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a report on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Copart presently has an average rating of "Moderate Buy" and a consensus price target of $54.50.

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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