Bellecapital International Ltd. Cuts Position in Copart, Inc. $CPRT

Key Points

• Bellecapital International Ltd. trimmed its position in Copart by 26.7% in Q4, selling 51,866 shares and leaving 142,180 shares valued at $5.566 million, about 1.0% of its portfolio (its 29th largest holding).
• Institutional ownership is high at 85.78%, with major funds including Vanguard, Principal, State Street, Invesco and Northern Trust reported increasing their stakes in recent quarters.
• Fundamentals and analyst views are mixed: Copart missed quarterly EPS and revenue estimates, insiders have sold shares, broker ratings range from Strong Buy to Sell, and MarketBeat’s consensus is a "Hold" with an average price target of $44.40 while the stock trades near $33.26.

Bellecapital International Ltd. trimmed its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 26.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 142,180 shares of the business services provider's stock after selling 51,866 shares during the period. Copart comprises about 1.0% of Bellecapital International Ltd.'s portfolio, making the stock its 29th biggest position. Bellecapital International Ltd.'s holdings in Copart were worth $5,566,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Copart by 2.4% during the third quarter. Vanguard Group Inc. now owns 108,990,652 shares of the business services provider's stock worth $4,901,310,000 after buying an additional 2,581,784 shares during the period. Principal Financial Group Inc. increased its stake in shares of Copart by 3.2% during the third quarter. Principal Financial Group Inc. now owns 40,175,058 shares of the business services provider's stock worth $1,806,674,000 after buying an additional 1,236,101 shares during the period. State Street Corp increased its stake in shares of Copart by 1.8% during the third quarter. State Street Corp now owns 37,062,931 shares of the business services provider's stock worth $1,666,720,000 after buying an additional 656,428 shares during the period. Invesco Ltd. increased its stake in shares of Copart by 7.6% during the third quarter. Invesco Ltd. now owns 10,931,871 shares of the business services provider's stock worth $491,606,000 after buying an additional 771,573 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Copart by 1.1% during the third quarter. Northern Trust Corp now owns 8,931,216 shares of the business services provider's stock worth $401,637,000 after buying an additional 97,411 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CPRT. Weiss Ratings downgraded Copart from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday. Barclays reaffirmed an "underweight" rating and issued a $32.00 price target (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Zacks Research raised Copart from a "strong sell" rating to a "hold" rating in a report on Monday, April 27th. Robert W. Baird set a $48.00 price target on Copart and gave the company an "outperform" rating in a report on Friday, February 20th. Finally, JPMorgan Chase & Co. lowered their price target on Copart from $45.00 to $34.00 and set a "neutral" rating for the company in a report on Monday, February 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Copart presently has a consensus rating of "Hold" and an average price target of $44.40.

Copart Price Performance

Shares of NASDAQ CPRT opened at $33.26 on Monday. The stock has a fifty day moving average price of $34.31 and a 200 day moving average price of $38.23. Copart, Inc. has a 1-year low of $32.20 and a 1-year high of $63.85. The company has a market cap of $32.03 billion, a PE ratio of 20.78 and a beta of 1.02.

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

Insider Transactions at Copart

In other Copart 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 transaction, the chief executive officer owned 79,532 shares in the company, valued at approximately $2,638,871.76. This represents a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 9.60% of the company's stock.

Copart Profile

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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