Ameriprise Financial Inc. Reduces Stock Holdings in Copart, Inc. $CPRT

Key Points

• Ameriprise Financial Inc. holds approximately $109.81 million in Copart, Inc., having reduced its position by 0.6% in the first quarter of the year.
• CEO Jeffrey Liaw sold 24,088 shares of Copart stock, resulting in a 43.31% decrease in his ownership of the company's shares.
• Copart reported earnings per share of $0.42 for the last quarter, matching analysts' expectations, with year-over-year revenue growth of 7.5%.

Ameriprise Financial Inc. decreased its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 0.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,940,107 shares of the business services provider's stock after selling 12,190 shares during the quarter. Ameriprise Financial Inc. owned 0.20% of Copart worth $109,808,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Cloud Capital Management LLC acquired a new stake in Copart in the first quarter valued at $26,000. Sunbelt Securities Inc. acquired a new stake in Copart in the 4th quarter valued at about $31,000. Accent Capital Management LLC purchased a new position in Copart during the 1st quarter valued at about $36,000. Financial Network Wealth Advisors LLC raised its position in Copart by 152.6% during 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 during the last quarter. Finally, SouthState Corp purchased a new stake in shares of Copart in the first quarter valued at about $45,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 24,088 shares of the business's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the completion of the sale, the chief executive officer owned 31,527 shares in the company, valued at approximately $1,463,798.61. The trade was a 43.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.68% of the stock is owned by corporate insiders.

Copart Price Performance

NASDAQ:CPRT traded up $0.05 during trading hours on Friday, reaching $48.80. 2,563,104 shares of the company were exchanged, compared to its average volume of 5,667,095. Copart, Inc. has a 52-week low of $45.05 and a 52-week high of $64.38. The stock has a 50 day simple moving average of $47.39 and a 200 day simple moving average of $53.25. The firm has a market cap of $47.18 billion, a price-to-earnings ratio of 32.15 and a beta of 1.04.

Analysts Set New Price Targets

CPRT has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Robert W. Baird reduced their target price 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. Finally, Stephens began coverage on shares of Copart in a research report on Tuesday, July 8th. They issued an "equal weight" rating and a $50.00 price objective for the company. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $53.33.

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.