B. Metzler seel. Sohn & Co. AG Sells 66,352 Shares of Copart, Inc. $CPRT

Key Points

• B. Metzler seel. Sohn & Co. AG reduced its stake in Copart by 45.9%, selling 66,352 shares in Q4 and leaving 78,166 shares valued at $3.06 million; institutional investors now own 85.78% of the stock.
• Copart CEO Jeffrey Liaw sold 26,213 shares on April 15 at an average price of $33.18, cutting his holding by 24.79%; insiders collectively own 9.60% of the company.
• Copart missed quarterly estimates (EPS $0.36 vs. $0.39 expected; revenue $1.12B vs. $1.15B) and faces mixed analyst views—average rating "Hold" with a $44.40 average target amid several downgrades and price-target cuts.

B. Metzler seel. Sohn & Co. AG reduced its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 45.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 78,166 shares of the business services provider's stock after selling 66,352 shares during the period. B. Metzler seel. Sohn & Co. AG's holdings in Copart were worth $3,060,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CPRT. Brighton Jones LLC grew its holdings in shares of Copart by 92.1% during the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider's stock worth $816,000 after purchasing an additional 6,817 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Copart by 365.8% during the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider's stock worth $63,000 after purchasing an additional 878 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Copart during the second quarter worth about $2,677,000. Sei Investments Co. grew its holdings in shares of Copart by 110.0% during the second quarter. Sei Investments Co. now owns 900,330 shares of the business services provider's stock worth $44,179,000 after purchasing an additional 471,571 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Copart by 3.5% during the second quarter. Treasurer of the State of North Carolina now owns 413,083 shares of the business services provider's stock worth $20,270,000 after purchasing an additional 13,860 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CPRT shares. Zacks Research cut Copart from a "hold" rating to a "strong sell" rating in a report on Tuesday, February 24th. Weiss Ratings restated a "hold (c-)" rating on shares of Copart in a report on Monday, March 23rd. Barclays restated an "underweight" rating and set a $32.00 price target (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Robert W. Baird set a $48.00 target price on Copart and gave the company an "outperform" rating in a report on Friday, February 20th. Finally, JPMorgan Chase & Co. reduced their target price on Copart from $45.00 to $34.00 and set a "neutral" rating on the stock in a report on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $44.40.

Insider Buying and Selling

In related news, CEO Jeffrey Liaw sold 26,213 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total value of $869,747.34. Following the completion of the sale, the chief executive officer directly owned 79,532 shares of the company's stock, valued at approximately $2,638,871.76. This represents a 24.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 9.60% of the company's stock.

Copart Stock Performance

Copart stock opened at $33.07 on Friday. The stock has a market capitalization of $31.86 billion, a price-to-earnings ratio of 20.67 and a beta of 1.14. Copart, Inc. has a 52-week low of $32.20 and a 52-week high of $63.85. The stock's 50 day moving average price is $34.66 and its two-hundred day moving average price is $38.62.

Copart (NASDAQ:CPRT - Get Free Report) last issued its earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.03). Copart had a return on equity of 16.68% and a net margin of 33.76%.The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the company earned $0.40 earnings per share. Copart's revenue for the quarter was down 3.6% compared to the same quarter last year. On average, equities research analysts forecast that Copart, Inc. will post 1.58 EPS for the current year.

About Copart

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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