Baader Bank Aktiengesellschaft Sells 10,040 Shares of Copart, Inc. $CPRT

Key Points

• Baader Bank Aktiengesellschaft lowered its stake in Copart, Inc. by 22.4% during the second quarter, after selling 10,040 shares, bringing its total holdings to approximately $1.71 million.
• Recent insider trading saw Director Thomas N. Tryforos sell 228,840 shares valued at over $10.8 million, while CEO Jeffrey Liaw sold 24,088 shares, resulting in a significant decrease in their positions.
• Copart reported a net margin of 33.41% for the quarter with earnings per share of $0.41, exceeding estimates, while revenue was slightly below expectations at $1.13 billion.

Baader Bank Aktiengesellschaft lowered its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 22.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,780 shares of the business services provider's stock after selling 10,040 shares during the period. Baader Bank Aktiengesellschaft's holdings in Copart were worth $1,707,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CPRT. Nuveen LLC bought a new position in shares of Copart in the first quarter valued at approximately $267,723,000. Fiera Capital Corp raised 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 acquiring an additional 2,642,100 shares during the last quarter. Amundi raised its stake in shares of Copart by 32.5% in the first quarter. Amundi now owns 9,380,026 shares of the business services provider's stock valued at $531,256,000 after acquiring an additional 2,299,192 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Copart by 2.1% in the first 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 last quarter. Finally, JPMorgan Chase & Co. raised its position 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 worth $868,417,000 after purchasing an additional 2,106,656 shares during the last quarter. Institutional investors own 85.78% of the company's stock.

Insider Buying and Selling

In related news, Director Thomas N. Tryforos sold 228,840 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $47.54, for a total transaction of $10,879,053.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jeffrey Liaw sold 24,088 shares of the stock in a transaction on 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 transaction, the chief executive officer directly owned 31,527 shares in the company, valued at approximately $1,463,798.61. This represents a 43.31% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.68% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. HSBC set a $62.00 price objective on shares of Copart and gave the stock a "buy" rating in a research report on Thursday, September 4th. Stephens dropped their target price on shares of Copart from $50.00 to $46.00 and set an "equal weight" rating for the company in a research report on Friday, September 5th. Robert W. Baird dropped their target price on shares of Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a research report on Thursday, July 17th. Finally, Hsbc Global Res upgraded shares of Copart from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Copart currently has a consensus rating of "Moderate Buy" and an average price target of $54.50.

Copart Price Performance

Shares of NASDAQ CPRT traded up $0.39 during mid-day trading on Friday, reaching $45.85. 20,163,202 shares of the company's stock traded hands, compared to its average volume of 7,097,659. The stock has a market cap of $44.33 billion, a P/E ratio of 28.66 and a beta of 1.03. The business has a 50-day simple moving average of $47.22 and a 200 day simple moving average of $52.19. 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 released its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.04. The business had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.14 billion. Copart had a net margin of 33.41% and a return on equity of 18.17%. The firm's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.33 earnings per share. Equities research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

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.