California State Teachers Retirement System Increases Stock Position in Copart, Inc. $CPRT

California State Teachers Retirement System raised its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 9.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,438,148 shares of the business services provider's stock after acquiring an additional 128,474 shares during the period. California State Teachers Retirement System owned approximately 0.16% of Copart worth $40,541,392 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Studio Investment Management LLC lifted its holdings in Copart by 5.5% during the 2nd quarter. Studio Investment Management LLC now owns 10,728 shares of the business services provider's stock worth $302,000 after buying an additional 556 shares in the last quarter. VELA Investment Management LLC bought a new stake in shares of Copart during the 2nd quarter valued at about $1,861,000. Saudi Central Bank raised its stake in shares of Copart by 83.8% in the 2nd quarter. Saudi Central Bank now owns 62,374 shares of the business services provider's stock worth $1,758,000 after buying an additional 28,430 shares in the last quarter. Maren Capital LLC boosted its holdings in shares of Copart by 0.9% during the second quarter. Maren Capital LLC now owns 2,496,614 shares of the business services provider's stock worth $70,380,000 after purchasing an additional 21,095 shares during the period. Finally, Compass Financial Management LLC bought a new stake in Copart during the 2nd quarter valued at approximately $33,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Price Performance

Copart stock traded down $0.36 during trading hours on Tuesday, hitting $31.37. The company had a trading volume of 2,924,227 shares, compared to its average volume of 10,182,027. The firm's fifty day moving average is $30.40 and its 200-day moving average is $32.02. Copart, Inc. has a fifty-two week low of $26.81 and a fifty-two week high of $47.63. The firm has a market capitalization of $29.04 billion, a P/E ratio of 20.24, a price-to-earnings-growth ratio of 1.43 and a beta of 1.03.

Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly earnings data on Thursday, September 10th. The business services provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.03). Copart had a return on equity of 15.93% and a net margin of 31.81%.The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the business earned $0.41 EPS. The firm's revenue was up 2.4% compared to the same quarter last year. Analysts anticipate that Copart, Inc. will post 1.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CPRT. Freedom Capital upgraded Copart to a "strong-buy" rating in a report on Friday, June 26th. Barrington Research upgraded Copart from a "market perform" rating to an "outperform" rating and set a $40.00 target price for the company in a research report on Friday. Stephens reaffirmed an "equal weight" rating and issued a $35.00 price target on shares of Copart in a research report on Thursday, August 20th. Jefferies Financial Group set a $45.00 price target on shares of Copart in a research report on Friday, May 22nd. Finally, Freedom Broker dropped their target price on shares of Copart from $39.00 to $36.00 and set a "buy" rating on the stock in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $37.38.

Insider Buying and Selling at Copart

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of the firm's stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total transaction of $845,945.05. Following the completion of the transaction, the chief executive officer owned 99,641 shares of the company's stock, valued at approximately $3,038,054.09. This trade represents a 21.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 9.60% of the company's stock.

Copart Profile

Copart, Inc NASDAQ: CPRT provides online vehicle auction and remarketing services. The company operates a global marketplace where damaged, recovered, used and other vehicles are sold primarily through online auctions. Its offerings include salvage and clean-title vehicles, with inventory sourced from insurance companies, banks, dealerships, fleet operators, rental companies, government agencies and other organizations.

Copart supports the vehicle remarketing process through inspection, storage, transportation, title processing and auction services.

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.