Alyeska Investment Group L.P. Purchases 46,340 Shares of Copart, Inc. $CPRT

Key Points

• Alyeska Investment Group L.P. increased its stake in Copart, Inc. by 26.6% during the first quarter, holding $12.48 million worth of shares after acquiring 46,340 additional shares.
• Several other institutional investors have also recently changed their stakes, with 85.78% of Copart's stock now owned by firms and hedge funds.
• Research firms have revised their price targets on Copart, with Robert W. Baird lowering it from $64.00 to $55.00, while HSBC set a price target of $62.00 with a "buy" rating.

Alyeska Investment Group L.P. raised its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 26.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 220,496 shares of the business services provider's stock after purchasing an additional 46,340 shares during the quarter. Alyeska Investment Group L.P.'s holdings in Copart were worth $12,478,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Cloud Capital Management LLC acquired a new stake in shares of Copart during the 1st quarter valued at about $26,000. Sunbelt Securities Inc. acquired a new stake in Copart in the fourth quarter valued at approximately $31,000. Accent Capital Management LLC acquired a new stake in Copart in the first quarter valued at approximately $36,000. Financial Network Wealth Advisors LLC grew its position 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 acquiring an additional 473 shares in the last quarter. Finally, SouthState Corp acquired a new position in shares of Copart during the 1st quarter worth $45,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Price Performance

Shares of NASDAQ CPRT traded down $1.40 during trading hours on Friday, hitting $48.57. 17,581,629 shares of the company's stock were exchanged, compared to its average volume of 6,181,600. The company's 50-day moving average price is $47.47 and its 200-day moving average price is $52.73. Copart, Inc. has a 1-year low of $45.05 and a 1-year high of $64.38. The stock has a market capitalization of $46.96 billion, a price-to-earnings ratio of 30.36 and a beta of 1.03.

Copart (NASDAQ:CPRT - Get Free Report) last released its earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.04. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.14 billion. Copart had a return on equity of 18.17% and a net margin of 33.41%.The company's revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.33 EPS. On average, research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Activity

In related news, CEO Jeffrey Liaw sold 24,088 shares of the business's 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 transaction, the chief executive officer owned 31,527 shares of the company's stock, valued at approximately $1,463,798.61. The trade was a 43.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 9.68% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CPRT. Robert W. Baird cut their price target on shares of Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a report on Thursday, July 17th. HSBC set a $62.00 target price on shares of Copart and gave the stock a "buy" rating in a research report on Thursday. 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 research report on Friday, May 23rd. Hsbc Global Res upgraded Copart from a "hold" rating to a "strong-buy" rating in a research note on Thursday. Finally, Stephens lowered their price objective on Copart from $50.00 to $46.00 and set an "equal weight" rating on the stock in a report on Friday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $54.50.

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.