Copart, Inc. $CPRT Shares Acquired by Amundi

Key Points

• Amundi has increased its stake in Copart, Inc. by 32.5%, acquiring an additional 2,299,192 shares during the first quarter, bringing its total ownership to approximately 0.97% of the company's shares.
• Several institutional investors, including Nuveen LLC and Fiera Capital Corp, have also significantly modified their holdings in Copart, indicating strong institutional interest in the stock.
• Analysts have lowered target prices for Copart shares, with the consensus rating now standing at "Hold" and an average target price of $53.33, reflecting mixed sentiments about the company's performance.

Amundi raised its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 32.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,380,026 shares of the business services provider's stock after purchasing an additional 2,299,192 shares during the period. Amundi owned about 0.97% of Copart worth $531,256,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in CPRT. Cloud Capital Management LLC bought a new stake in shares of Copart in the 1st quarter valued at approximately $26,000. Sunbelt Securities Inc. bought a new stake in shares of Copart in the 4th quarter valued at approximately $31,000. Accent Capital Management LLC bought a new stake in shares of Copart in the 1st quarter valued at approximately $36,000. Financial Network Wealth Advisors LLC increased its holdings in shares of Copart by 152.6% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 783 shares of the business services provider's stock valued at $44,000 after acquiring an additional 473 shares during the last quarter. Finally, SouthState Corp bought a new stake in shares of Copart in the 1st quarter valued at approximately $45,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Stock Performance

Shares of NASDAQ:CPRT traded down $1.40 on Friday, hitting $48.57. The company's stock had a trading volume of 17,581,629 shares, compared to its average volume of 5,525,177. Copart, Inc. has a 12 month low of $45.05 and a 12 month high of $64.38. The company has a market capitalization of $46.96 billion, a price-to-earnings ratio of 30.36 and a beta of 1.03. The stock's 50-day moving average is $47.47 and its two-hundred day moving average is $52.81.

Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly 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. Copart had a return on equity of 18.65% and a net margin of 33.41%.The company had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.14 billion. During the same quarter in the prior year, the business posted $0.33 earnings per share. The company's revenue for the quarter was up 2.9% compared to the same quarter last year. Equities analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CPRT. Robert W. Baird lowered 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. JPMorgan Chase & Co. lowered 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. Stephens lowered 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. HSBC set a $62.00 price objective on Copart and gave the stock a "buy" rating in a research note on Thursday. Finally, Hsbc Global Res upgraded Copart from a "hold" rating to a "strong-buy" rating in a research note on Thursday. 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $54.50.

Insider Activity

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

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.