California State Teachers Retirement System Sells 38,787 Shares of Copart, Inc. $CPRT

Key Points

• California State Teachers Retirement System reduced its Copart stake by 2.9%, selling 38,787 shares and retaining 1.31 million shares valued at approximately $43.5 million. Institutional investors collectively own 85.78% of the company.
• Analyst views remain mixed, with Copart receiving a consensus “Hold” rating and an average price target of $43.50. Recent ratings range from “Strong Buy” to “Strong Sell.”
• Copart’s latest quarterly results exceeded expectations, with $0.43 in earnings per share versus the $0.41 consensus and $1.24 billion in revenue. Separately, CEO Jeffrey Liaw sold 27,745 shares worth about $846,000.

California State Teachers Retirement System trimmed its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 2.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,309,674 shares of the business services provider's stock after selling 38,787 shares during the quarter. California State Teachers Retirement System owned 0.14% of Copart worth $43,481,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CPRT. Empowered Funds LLC grew its holdings in shares of Copart by 29.1% in the 1st quarter. Empowered Funds LLC now owns 131,657 shares of the business services provider's stock worth $4,371,000 after purchasing an additional 29,676 shares during the last quarter. Quantinno Capital Management LP increased its position in shares of Copart by 10.7% during the 1st quarter. Quantinno Capital Management LP now owns 453,331 shares of the business services provider's stock worth $15,051,000 after purchasing an additional 43,879 shares in the last quarter. Delta Global Management LP bought a new position in Copart during the 1st quarter valued at about $2,045,000. OMERS ADMINISTRATION Corp lifted its holdings in Copart by 26.4% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 45,497 shares of the business services provider's stock valued at $1,510,000 after purchasing an additional 9,501 shares during the last quarter. Finally, Lombard Odier Asset Management Switzerland SA acquired a new position in Copart in the first quarter valued at about $266,000. 85.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on CPRT. Freedom Capital upgraded Copart to a "strong-buy" rating in a research report on Friday, June 26th. Weiss Ratings restated a "sell (d+)" rating on shares of Copart in a report on Wednesday. Jefferies Financial Group set a $45.00 target price on Copart in a research note on Friday, May 22nd. Barclays set a $26.00 price target on Copart and gave the company an "underweight" rating in a report on Tuesday, July 21st. Finally, Zacks Research downgraded shares of Copart from a "hold" rating to a "strong sell" rating in a research report on Tuesday. Three investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Copart has a consensus rating of "Hold" and a consensus price target of $43.50.

Copart Price Performance

NASDAQ:CPRT opened at $29.12 on Friday. The business's 50-day simple moving average is $29.82 and its 200-day simple moving average is $33.76. Copart, Inc. has a fifty-two week low of $26.81 and a fifty-two week high of $50.11. The stock has a market capitalization of $26.96 billion, a PE ratio of 18.09 and a beta of 1.02.

Copart (NASDAQ:CPRT - Get Free Report) last released its earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.19 billion. Copart had a return on equity of 16.63% and a net margin of 33.48%.The business's quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 EPS. On average, research analysts expect that Copart, Inc. will post 1.58 earnings per share for the current year.

Insider Activity at Copart

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of the company's stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total value of $845,945.05. Following the transaction, the chief executive officer directly owned 99,641 shares of the company's stock, valued at $3,038,054.09. This represents a 21.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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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