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

BNP Paribas Financial Markets grew its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 48.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,382,130 shares of the business services provider's stock after acquiring an additional 777,443 shares during the quarter. BNP Paribas Financial Markets owned about 0.25% of Copart worth $93,260,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Cornerstone Planning Group LLC raised its stake in shares of Copart by 54.0% in the third quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider's stock valued at $31,000 after acquiring an additional 256 shares during the period. Quadrant Capital Group LLC grew its holdings in shares of Copart by 1.3% in the third quarter. Quadrant Capital Group LLC now owns 20,693 shares of the business services provider's stock worth $931,000 after purchasing an additional 264 shares during the last quarter. Sierra Legacy Group grew its holdings in shares of Copart by 1.9% in the fourth quarter. Sierra Legacy Group now owns 13,880 shares of the business services provider's stock worth $543,000 after purchasing an additional 265 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Copart by 23.8% in the second quarter. Geneos Wealth Management Inc. now owns 1,384 shares of the business services provider's stock worth $68,000 after purchasing an additional 266 shares during the last quarter. Finally, Brown Miller Wealth Management LLC grew its holdings in shares of Copart by 3.8% in the fourth quarter. Brown Miller Wealth Management LLC now owns 7,310 shares of the business services provider's stock worth $286,000 after purchasing an additional 268 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company's stock.

Copart Trading Down 1.4%

CPRT opened at $32.32 on Tuesday. Copart, Inc. has a 12-month low of $31.95 and a 12-month high of $51.40. The firm has a market capitalization of $31.13 billion, a PE ratio of 20.07 and a beta of 1.01. The firm has a 50 day moving average of $33.22 and a two-hundred day moving average of $36.82.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.02. Copart had a net margin of 33.48% and a return on equity of 16.63%. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the firm posted $0.42 EPS. Copart's revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, analysts predict that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on CPRT shares. Robert W. Baird set a $48.00 target price on shares of Copart and gave the stock an "outperform" rating in a report on Friday, February 20th. Zacks Research upgraded shares of Copart from a "strong sell" rating to a "hold" rating in a research note on Monday, April 27th. Weiss Ratings cut shares of Copart from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, May 1st. Barclays reiterated an "underweight" rating and issued a $32.00 target price (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. Finally, Jefferies Financial Group set a $45.00 target price on shares of Copart in a research note on Friday, May 22nd. 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. Based on data from MarketBeat.com, Copart has an average rating of "Hold" and an average price target of $44.50.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 26,213 shares of Copart stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total transaction of $869,747.34. Following the completion of the transaction, the chief executive officer directly owned 79,532 shares of the company's stock, valued at $2,638,871.76. The trade was a 24.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.60% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding CPRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Copart, Inc. (NASDAQ:CPRT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.