BNP Paribas Financial Markets Raises Stake in Copart, Inc. $CPRT

Key Points

• BNP Paribas Financial Markets increased its holdings in Copart, Inc. by 10.5%, now owning over 3.1 million shares valued at approximately $176.16 million.
• CEO Jeffrey Liaw sold 24,088 shares in July, resulting in a 43.31% decrease in his ownership stake, now worth around $1.46 million.
• Analysts have adjusted their price targets for Copart shares, with JPMorgan lowering it from $60.00 to $55.00 and maintaining a "neutral" rating.

BNP Paribas Financial Markets increased its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 10.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,112,946 shares of the business services provider's stock after buying an additional 295,753 shares during the period. BNP Paribas Financial Markets owned about 0.32% of Copart worth $176,162,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new position in Copart during the 1st quarter worth approximately $267,723,000. Fiera Capital Corp lifted its position in shares of Copart by 195.6% during the 1st 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 last quarter. Vanguard Group Inc. grew its stake in shares of Copart by 2.1% during the first quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider's stock worth $5,900,295,000 after purchasing an additional 2,134,890 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Copart by 15.9% in the first quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider's stock valued at $868,417,000 after buying an additional 2,106,656 shares during the last quarter. Finally, Douglass Winthrop Advisors LLC purchased a new position in Copart in the first quarter valued at $87,903,000. Institutional investors and hedge funds own 85.78% of the company's stock.

Copart Price Performance

Shares of CPRT traded up $0.06 during midday trading on Monday, reaching $48.81. 5,330,175 shares of the stock were exchanged, compared to its average volume of 5,537,744. The business's 50-day moving average price is $47.41 and its 200 day moving average price is $53.09. Copart, Inc. has a twelve month low of $45.05 and a twelve month high of $64.38. The company has a market capitalization of $47.20 billion, a price-to-earnings ratio of 32.11 and a beta of 1.03.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CPRT. Robert W. Baird decreased their price target on Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a report on Thursday, July 17th. 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 for the company. Finally, JPMorgan Chase & Co. lowered their price target on Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $53.33.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 31,527 shares in the company, valued at approximately $1,463,798.61. The trade was a 43.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.68% of the stock is currently owned by company insiders.

About Copart

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.