Alapocas Investment Partners Inc. Has $8.92 Million Position in Copart, Inc. $CPRT

Key Points

• Alapocas Investment Partners Inc. reduced its holdings in Copart, Inc. by 6.2% in the second quarter, holding 181,711 shares valued at approximately $8.92 million, making Copart its 10th largest investment.
• Institutional investors own 85.78% of Copart's stock, with Vanguard Group leading with over 104 million shares, followed by Principal Financial Group and JPMorgan Chase, which also increased their stakes.
• Copart exceeded analysts' earnings expectations for the quarter, reporting $0.41 earnings per share against an estimate of $0.37, while also showing a 2.9% increase in quarterly revenue year-over-year.

Alapocas Investment Partners Inc. trimmed its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 6.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 181,711 shares of the business services provider's stock after selling 11,931 shares during the quarter. Copart accounts for 5.7% of Alapocas Investment Partners Inc.'s portfolio, making the stock its 10th largest holding. Alapocas Investment Partners Inc.'s holdings in Copart were worth $8,917,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Copart by 2.1% in the first quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider's stock worth $5,900,295,000 after purchasing an additional 2,134,890 shares during the period. Principal Financial Group Inc. lifted its position in Copart by 3.3% in the first quarter. Principal Financial Group Inc. now owns 39,409,377 shares of the business services provider's stock worth $2,230,177,000 after purchasing an additional 1,249,687 shares during the period. JPMorgan Chase & Co. lifted its position in Copart by 15.9% in the first quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider's stock worth $868,417,000 after purchasing an additional 2,106,656 shares during the period. Invesco Ltd. lifted its position in Copart by 7.5% in the first quarter. Invesco Ltd. now owns 9,490,237 shares of the business services provider's stock worth $537,052,000 after purchasing an additional 658,329 shares during the period. Finally, Amundi lifted its position in Copart by 32.5% in the first quarter. Amundi now owns 9,380,026 shares of the business services provider's stock worth $531,256,000 after purchasing an additional 2,299,192 shares during the period. 85.78% of the stock is owned by institutional investors.

Copart Stock Performance

Shares of NASDAQ:CPRT opened at $44.76 on Tuesday. Copart, Inc. has a twelve month low of $43.32 and a twelve month high of $64.38. The firm has a market cap of $43.32 billion, a PE ratio of 27.98 and a beta of 1.03. The business has a fifty day moving average of $46.57 and a 200-day moving average of $50.74.

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 for the quarter, beating analysts' consensus estimates of $0.37 by $0.04. Copart had a return on equity of 18.17% and a net margin of 33.41%.The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the company posted $0.33 earnings per share. The firm's quarterly revenue was up 2.9% compared to the same quarter last year. On average, analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analyst Ratings Changes

CPRT has been the subject of several recent analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Copart in a research note on Wednesday, October 8th. HSBC set a $62.00 price objective on Copart and gave the stock a "buy" rating in a research note on Thursday, September 4th. Hsbc Global Res upgraded Copart from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 4th. Robert W. Baird dropped their price objective on Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a research note on Thursday, July 17th. Finally, Stephens dropped their price objective on Copart from $50.00 to $46.00 and set an "equal weight" rating for the company in a research note on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Copart presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.50.

Insider Transactions at Copart

In related news, CEO Jeffrey Liaw sold 24,283 shares of Copart stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total value of $1,087,635.57. Following the completion of the sale, the chief executive officer directly owned 31,332 shares in the company, valued at $1,403,360.28. This trade represents a 43.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas N. Tryforos sold 228,840 shares of Copart stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $47.54, for a total value of $10,879,053.60. The disclosure for this sale can be found here. 9.68% of the stock is owned by company insiders.

Copart Profile

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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