Copart, Inc. $CPRT Shares Acquired by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management Holding SA increased its Copart stake by 8.2% in Q4 to 3,543,604 shares (roughly 0.37% of the company), valued at about $138.7 million.
• Copart missed expectations for the quarter, reporting $0.36 EPS versus $0.39 expected and $1.12 billion in revenue versus $1.15 billion expected, with revenue down 3.6% year‑over‑year and a net margin of 33.8%.
• CEO Jeffrey Liaw sold 26,213 shares (reducing his holding by ~24.8%), institutional investors own ~85.8% of the stock, and analysts show mixed views with a consensus "Hold" and a $44.40 target amid recent downgrades and lower price targets.

Pictet Asset Management Holding SA increased its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 8.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,543,604 shares of the business services provider's stock after acquiring an additional 268,314 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.37% of Copart worth $138,732,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. PDS Planning Inc grew its holdings in shares of Copart by 4.9% in the 3rd quarter. PDS Planning Inc now owns 5,196 shares of the business services provider's stock worth $234,000 after acquiring an additional 242 shares during the last quarter. Hollencrest Capital Management grew its holdings in shares of Copart by 13.2% in the 3rd quarter. Hollencrest Capital Management now owns 2,088 shares of the business services provider's stock worth $94,000 after acquiring an additional 244 shares during the last quarter. Unique Wealth LLC grew its holdings in shares of Copart by 2.3% in the 3rd quarter. Unique Wealth LLC now owns 10,785 shares of the business services provider's stock worth $485,000 after acquiring an additional 245 shares during the last quarter. Howard Capital Management Inc. grew its holdings in shares of Copart by 1.1% in the 3rd quarter. Howard Capital Management Inc. now owns 24,163 shares of the business services provider's stock worth $1,087,000 after acquiring an additional 253 shares during the last quarter. Finally, Cornerstone Planning Group LLC grew its holdings in shares of Copart by 54.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider's stock worth $31,000 after acquiring an additional 256 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Trading Up 0.4%

Shares of CPRT stock opened at $33.19 on Tuesday. Copart, Inc. has a 1-year low of $32.20 and a 1-year high of $63.85. The company has a market capitalization of $31.97 billion, a price-to-earnings ratio of 20.74 and a beta of 1.14. The stock's fifty day simple moving average is $34.57 and its 200-day simple moving average is $38.46.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.03). Copart had a net margin of 33.76% and a return on equity of 16.68%. The business had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.15 billion. During the same quarter in the prior year, the firm posted $0.40 EPS. The business's quarterly revenue was down 3.6% compared to the same quarter last year. On average, sell-side analysts predict that Copart, Inc. will post 1.58 EPS for the current year.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the business's stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total value of $869,747.34. Following the transaction, the chief executive officer owned 79,532 shares in the company, valued at $2,638,871.76. The trade was a 24.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 9.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CPRT shares. Weiss Ratings restated a "hold (c-)" rating on shares of Copart in a report on Monday, March 23rd. JPMorgan Chase & Co. lowered their price target on Copart from $45.00 to $34.00 and set a "neutral" rating on the stock in a report on Monday, February 23rd. Zacks Research downgraded Copart from a "hold" rating to a "strong sell" rating in a report on Tuesday, February 24th. Barclays reiterated an "underweight" rating and set a $32.00 price target (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Finally, Robert W. Baird set a $48.00 price target on Copart and gave the company an "outperform" rating in a report on Friday, February 20th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $44.40.

About Copart

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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