Baader Bank Aktiengesellschaft Acquires 12,160 Shares of Copart, Inc. (NASDAQ:CPRT)

Baader Bank Aktiengesellschaft boosted its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 37.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,820 shares of the business services provider's stock after purchasing an additional 12,160 shares during the period. Baader Bank Aktiengesellschaft's holdings in Copart were worth $2,536,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of CPRT. Edgewood Management LLC increased its stake in Copart by 14.1% in the 4th quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider's stock worth $1,346,548,000 after purchasing an additional 2,907,405 shares during the period. Fiera Capital Corp boosted its holdings in shares of Copart by 195.6% during the first quarter. Fiera Capital Corp now owns 3,992,610 shares of the business services provider's stock worth $225,942,000 after purchasing an additional 2,642,100 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Copart by 14.4% during the fourth quarter. Wellington Management Group LLP now owns 14,157,306 shares of the business services provider's stock worth $812,488,000 after purchasing an additional 1,785,741 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Copart by 58.8% during the fourth quarter. Franklin Resources Inc. now owns 4,296,060 shares of the business services provider's stock worth $246,551,000 after purchasing an additional 1,590,706 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Copart by 3.3% during the first quarter. Principal Financial Group Inc. now owns 39,409,377 shares of the business services provider's stock worth $2,230,177,000 after purchasing an additional 1,249,687 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 24,088 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total value of $1,118,405.84. Following the sale, the chief executive officer directly owned 31,527 shares of the company's stock, valued at approximately $1,463,798.61. This represents a 43.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 9.68% of the company's stock.

Wall Street Analyst Weigh In

CPRT has been the topic of several research analyst reports. Robert W. Baird reduced their target price on 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. reduced their target price on 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 initiated coverage on Copart in a research note on Tuesday, July 8th. They set an "equal weight" rating and a $50.00 target price on the stock.

Copart Price Performance

CPRT stock traded up $0.18 during midday trading on Friday, hitting $45.51. The stock had a trading volume of 5,688,018 shares, compared to its average volume of 5,705,008. The firm has a market cap of $44.01 billion, a price-to-earnings ratio of 29.94 and a beta of 1.07. The business has a 50-day moving average of $48.63 and a two-hundred day moving average of $54.67. Copart, Inc. has a 52-week low of $45.05 and a 52-week high of $64.38.

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