Amundi Purchases 776,636 Shares of Copart, Inc. $CPRT

Key Points

• Amundi increased its Copart stake by 16.2% in the first quarter, purchasing 776,636 shares to reach 5.56 million shares valued at approximately $184.6 million. Institutional investors and hedge funds collectively own 85.78% of Copart.
• Copart exceeded quarterly expectations, reporting adjusted earnings of $0.43 per share versus the $0.41 consensus and revenue of $1.24 billion versus $1.19 billion expected. Revenue rose 2.1% year over year, while net margin reached 33.48%.
• Analyst sentiment remains mixed, with Copart carrying a consensus “Hold” rating and an average price target of $43.50, compared with a recent share price near $29.57. CEO Jeffrey Liaw also sold 27,745 shares for approximately $845,945.

Amundi lifted its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 16.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,559,848 shares of the business services provider's stock after purchasing an additional 776,636 shares during the quarter. Amundi owned approximately 0.58% of Copart worth $184,587,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. State Street Corp raised its stake in shares of Copart by 1.3% in the 4th quarter. State Street Corp now owns 37,555,437 shares of the business services provider's stock valued at $1,470,295,000 after buying an additional 492,506 shares in the last quarter. Capital World Investors boosted its position in shares of Copart by 25.1% during the 4th quarter. Capital World Investors now owns 27,728,398 shares of the business services provider's stock valued at $1,085,588,000 after acquiring an additional 5,555,101 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Copart by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 23,255,161 shares of the business services provider's stock valued at $906,836,000 after acquiring an additional 131,703 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Copart by 21.7% in the 4th quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider's stock valued at $860,618,000 after purchasing an additional 3,918,610 shares during the period. Finally, Norges Bank acquired a new position in Copart during the fourth quarter worth $569,569,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Price Performance

CPRT stock opened at $29.57 on Friday. Copart, Inc. has a 1 year low of $26.81 and a 1 year high of $50.11. The company has a 50 day simple moving average of $29.91 and a 200 day simple moving average of $33.79. The stock has a market cap of $27.38 billion, a price-to-earnings ratio of 18.37 and a beta of 1.02.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.02. Copart had a net margin of 33.48% and a return on equity of 16.63%. The company had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter in the previous year, the firm posted $0.42 earnings per share. Copart's revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts anticipate that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CPRT has been the subject of a number of research analyst reports. Jefferies Financial Group set a $45.00 target price on shares of Copart in a research note on Friday, May 22nd. Freedom Capital raised shares of Copart to a "strong-buy" rating in a research note on Friday, June 26th. Zacks Research cut Copart from a "hold" rating to a "strong sell" rating in a research note on Tuesday. Weiss Ratings lowered shares of Copart from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, May 1st. Finally, Barclays set a $26.00 price target on shares of Copart and gave the stock an "underweight" rating in a research note on Tuesday, July 21st. Three analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $43.50.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total transaction of $845,945.05. Following the completion of the transaction, the chief executive officer owned 99,641 shares in the company, valued at approximately $3,038,054.09. The trade was a 21.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.60% of the company's stock.

Copart Profile

Copart NASDAQ: CPRT is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart's business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.

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