AQR Capital Management LLC Sells 13,591 Shares of Copart, Inc. $CPRT

AQR Capital Management LLC reduced its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 2.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 560,304 shares of the business services provider's stock after selling 13,591 shares during the period. AQR Capital Management LLC owned approximately 0.06% of Copart worth $31,046,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Nuveen LLC acquired a new stake in Copart during the 1st quarter worth $267,723,000. Fiera Capital Corp grew its stake in shares of Copart by 195.6% in the first quarter. Fiera Capital Corp now owns 3,992,610 shares of the business services provider's stock valued at $225,942,000 after buying an additional 2,642,100 shares in the last quarter. Amundi raised its position in Copart by 32.5% during the first quarter. Amundi now owns 9,380,026 shares of the business services provider's stock worth $531,256,000 after acquiring an additional 2,299,192 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Copart by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider's stock valued at $5,900,295,000 after acquiring an additional 2,134,890 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Copart by 15.9% in the 1st quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider's stock valued at $868,417,000 after acquiring an additional 2,106,656 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Jeffrey Liaw sold 24,088 shares of the firm'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 transaction, the chief executive officer directly owned 31,527 shares of the company's stock, valued at approximately $1,463,798.61. This trade represents a 43.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.68% of the stock is owned by insiders.

Analysts Set New Price Targets

CPRT has been the topic of a number of research reports. Robert W. Baird decreased their price target on shares of Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a research note on Thursday, July 17th. JPMorgan Chase & Co. decreased their target price on shares of Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Hsbc Global Res raised shares of Copart from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 4th. HSBC set a $62.00 price target on shares of Copart and gave the company a "buy" rating in a research report on Thursday, September 4th. Finally, Stephens reduced their price target on Copart from $50.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Copart has an average rating of "Moderate Buy" and an average target price of $54.50.

Copart Stock Performance

Shares of Copart stock traded down $0.22 on Friday, hitting $48.68. The company had a trading volume of 999,233 shares, compared to its average volume of 5,800,369. The stock has a market capitalization of $47.07 billion, a price-to-earnings ratio of 30.43 and a beta of 1.03. The stock has a 50 day moving average of $47.41 and a 200-day moving average of $52.56. Copart, Inc. has a 1 year low of $45.05 and a 1 year high of $64.38.

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

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.