13,800 Shares in Copart, Inc. (NASDAQ:CPRT) Purchased by Arrowpoint Investment Partners Singapore Pte. Ltd.

Key Points

• Arrowpoint Investment Partners acquired a new stake in Copart, purchasing 13,800 shares valued at approximately $781,000, indicating growing institutional interest in the company.
• Copart reported a quarterly EPS of $0.42, matching analyst expectations, with revenues reaching $1.21 billion, reflecting a 7.5% year-over-year increase.
• CEO Jeffrey Liaw sold 24,088 shares of company stock, reducing his position by 43.31%, while insiders collectively hold 9.68% of the company's stock.

Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 13,800 shares of the business services provider's stock, valued at approximately $781,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of Copart by 92.1% in the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider's stock valued at $816,000 after purchasing an additional 6,817 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of Copart by 18.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 80,397 shares of the business services provider's stock valued at $4,614,000 after purchasing an additional 12,542 shares during the last quarter. Sagespring Wealth Partners LLC acquired a new position in shares of Copart in the fourth quarter valued at $771,000. Synovus Financial Corp increased its holdings in shares of Copart by 1.6% in the fourth quarter. Synovus Financial Corp now owns 123,617 shares of the business services provider's stock valued at $7,094,000 after purchasing an additional 1,939 shares during the last quarter. Finally, Summit Investment Advisors Inc. increased its holdings in shares of Copart by 3.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 39,197 shares of the business services provider's stock valued at $2,250,000 after purchasing an additional 1,371 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 24,088 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were 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 of the company's stock, valued at $1,463,798.61. This represents a 43.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 9.68% of the company's stock.

Copart Stock Performance

Shares of CPRT stock traded down $0.79 on Thursday, hitting $46.86. The company's stock had a trading volume of 4,929,834 shares, compared to its average volume of 5,690,335. The stock's 50 day moving average is $47.67 and its 200-day moving average is $54.02. Copart, Inc. has a fifty-two week low of $45.05 and a fifty-two week high of $64.38. The company has a market capitalization of $45.31 billion, a PE ratio of 30.83 and a beta of 1.04.

Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. Copart had a net margin of 32.21% and a return on equity of 18.20%. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the company posted $0.39 earnings per share. Copart's revenue was up 7.5% compared to the same quarter last year. On average, research analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CPRT shares. Robert W. Baird decreased their price objective 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. JPMorgan Chase & Co. decreased their price target on shares of Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Finally, Stephens started coverage on shares of Copart in a research note on Tuesday, July 8th. They issued an "equal weight" rating and a $50.00 price target on the stock.

Copart Company 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.