Vident Advisory LLC Buys 55,794 Shares of Copart, Inc. $CPRT

Key Points

• Vident Advisory LLC increased its stake in Copart, Inc. by 158.9% in the first quarter, now owning 90,915 shares valued at approximately $5.1 million.
• Analysts have set a consensus rating of "Hold" for Copart, with an average price target of $53.33, after several adjustments from other brokerages.
• CEO Jeffrey Liaw sold 24,088 shares of Copart at an average price of $46.43, reducing his ownership by 43.31% to 31,527 shares.

Vident Advisory LLC grew its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 158.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 90,915 shares of the business services provider's stock after acquiring an additional 55,794 shares during the quarter. Vident Advisory LLC's holdings in Copart were worth $5,145,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Canada Pension Plan Investment Board lifted its holdings in Copart by 105.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 910,250 shares of the business services provider's stock valued at $51,511,000 after acquiring an additional 467,686 shares during the last quarter. Parnassus Investments LLC bought a new stake in Copart in the first quarter worth approximately $42,942,000. WPG Advisers LLC acquired a new position in Copart during the first quarter valued at approximately $138,000. Tema Etfs LLC grew its stake in shares of Copart by 146.2% in the first quarter. Tema Etfs LLC now owns 30,080 shares of the business services provider's stock worth $1,702,000 after acquiring an additional 17,860 shares during the last quarter. Finally, Trexquant Investment LP grew its stake in shares of Copart by 961.3% in the first quarter. Trexquant Investment LP now owns 363,245 shares of the business services provider's stock worth $20,556,000 after acquiring an additional 329,020 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company's stock.

Insider Transactions at Copart

In related news, CEO Jeffrey Liaw sold 24,088 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total value of $1,118,405.84. Following the completion of the transaction, the chief executive officer owned 31,527 shares in the company, valued at $1,463,798.61. This trade represents a 43.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.68% of the stock is currently owned by company insiders.

Copart Price Performance

NASDAQ:CPRT traded down $2.54 during trading hours on Friday, reaching $47.43. 8,554,589 shares of the stock were exchanged, compared to its average volume of 5,737,336. The stock has a market cap of $45.86 billion, a PE ratio of 31.18 and a beta of 1.03. Copart, Inc. has a twelve month low of $45.05 and a twelve month high of $64.38. The firm has a 50 day moving average of $47.46 and a 200 day moving average of $52.89.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.04. Copart had a return on equity of 18.20% and a net margin of 32.21%.The business had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.14 billion. During the same quarter in the prior year, the business earned $0.33 EPS. The firm's revenue for the quarter was up 2.9% on a year-over-year basis. Equities research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CPRT shares. JPMorgan Chase & Co. decreased their price target on shares of Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Stephens reduced their price target on shares of Copart from $50.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Friday. HSBC set a $62.00 price target on shares of Copart and gave the stock a "buy" rating in a research report on Thursday. Finally, Robert W. Baird reduced their price target on shares of Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday, July 17th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $54.50.

Copart 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.