APG Asset Management N.V. Reduces Position in Copart, Inc. $CPRT

Key Points

• APG Asset Management N.V. reduced its position in Copart, Inc. by 5.4% in the first quarter, owning 622,719 shares after selling 35,361 shares.
• Copart reported a net margin of 32.21% with an earnings per share (EPS) of $0.42, matching analysts' expectations.
• Multiple analysts have recently downgraded their price targets for Copart, with Robert W. Baird lowering its target from $64.00 to $55.00 while still rating it as "outperform."

APG Asset Management N.V. decreased its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 5.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 622,719 shares of the business services provider's stock after selling 35,361 shares during the quarter. APG Asset Management N.V. owned approximately 0.06% of Copart worth $32,623,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CPRT. Cloud Capital Management LLC purchased a new stake in shares of Copart in the 1st quarter valued at approximately $26,000. Sunbelt Securities Inc. acquired a new position in Copart in the fourth quarter valued at approximately $31,000. Accent Capital Management LLC purchased a new position in Copart in the first quarter worth approximately $36,000. Financial Network Wealth Advisors LLC increased its stake 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, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Copart in the fourth quarter valued at $45,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of the company'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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 9.68% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. 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. Stephens assumed coverage on shares of Copart in a research report on Tuesday, July 8th. They issued an "equal weight" rating and a $50.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their price target on shares of Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Copart has an average rating of "Hold" and an average target price of $53.33.

Copart Trading Up 0.1%

Copart stock traded up $0.04 during midday trading on Friday, reaching $48.79. 1,852,260 shares of the stock traded hands, compared to its average volume of 5,663,166. The firm has a market cap of $47.17 billion, a PE ratio of 32.08 and a beta of 1.04. The company has a 50-day simple moving average of $47.39 and a two-hundred day simple moving average of $53.25. Copart, Inc. has a 12-month low of $45.05 and a 12-month high of $64.38.

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.