Copart, Inc. $CPRT Shares Bought by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP increased its stake in Copart by 39.1% in Q3 to 4,705,613 shares, worth about $211.6 million and representing roughly 0.49% of the company.
• CEO Jeffrey Liaw sold 25,137 shares on Jan. 15 at an average price of $40.17, reducing his holding by about 30.99%; corporate insiders now own 9.60% of the stock.
• Copart missed quarterly estimates with EPS of $0.36 vs. $0.39 expected and revenue of $1.12 billion vs. $1.15 billion, with revenue down 3.6% year‑over‑year; the consensus analyst rating is "Hold" with an average price target of $44.40.

Dimensional Fund Advisors LP raised its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 39.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,705,613 shares of the business services provider's stock after buying an additional 1,323,281 shares during the period. Dimensional Fund Advisors LP owned about 0.49% of Copart worth $211,608,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Cloud Capital Management LLC acquired a new stake in shares of Copart during the 3rd quarter valued at about $25,000. Tripletail Wealth Management LLC acquired a new position in Copart in the 3rd quarter worth about $27,000. LRI Investments LLC raised its holdings in Copart by 125.2% in the 3rd quarter. LRI Investments LLC now owns 653 shares of the business services provider's stock worth $29,000 after purchasing an additional 363 shares during the period. Cornerstone Planning Group LLC boosted its position in Copart by 54.0% during the third quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider's stock worth $31,000 after purchasing an additional 256 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. boosted its position in Copart by 173.4% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 864 shares of the business services provider's stock worth $39,000 after purchasing an additional 548 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company's stock.

Insider Buying and Selling

In related news, CEO Jeffrey Liaw sold 25,137 shares of the stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total value of $1,009,753.29. Following the completion of the transaction, the chief executive officer directly owned 55,970 shares of the company's stock, valued at approximately $2,248,314.90. This represents a 30.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 9.60% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on CPRT. Robert W. Baird set a $48.00 price objective on Copart and gave the company an "outperform" rating in a research report on Friday, February 20th. JPMorgan Chase & Co. decreased their target price on Copart from $45.00 to $34.00 and set a "neutral" rating on the stock in a research report on Monday, February 23rd. CJS Securities raised shares of Copart to a "strong-buy" rating in a research note on Thursday, December 11th. Zacks Research lowered shares of Copart from a "hold" rating to a "strong sell" rating in a report on Tuesday, February 24th. Finally, Barclays restated an "underweight" rating and set a $32.00 price objective (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $44.40.

Copart Trading Down 0.8%

NASDAQ:CPRT opened at $37.72 on Friday. Copart, Inc. has a 12 month low of $33.81 and a 12 month high of $63.85. The stock has a 50 day moving average of $39.07 and a two-hundred day moving average of $41.87. The firm has a market cap of $36.34 billion, a P/E ratio of 23.58 and a beta of 1.09.

Copart (NASDAQ:CPRT - Get Free Report) last announced its earnings results on Thursday, February 19th. The business services provider reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.03). The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.15 billion. Copart had a net margin of 33.76% and a return on equity of 16.68%. Copart's revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.40 EPS. On average, research analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

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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