Copart, Inc. $CPRT Shares Purchased by Seilern Investment Management Ltd

Key Points

• Seilern Investment Management increased its Copart stake by 1,428.9% in the second quarter, buying 983,843 additional shares to hold 1.05 million shares worth approximately $29.7 million. Institutional investors and hedge funds collectively own 85.78% of the company.
• Analyst sentiment is mixed, with Copart receiving a consensus “Hold” rating and an average price target of $43.50. Ratings range from “Strong Buy” to “Strong Sell,” while CEO Jeffrey Liaw sold 27,745 shares for roughly $846,000.
• Copart shares opened at $29.66, near the lower end of their 52-week range. The company’s latest quarterly results exceeded expectations, reporting $0.43 in EPS and $1.24 billion in revenue, with revenue up 2.1% year over year.

Seilern Investment Management Ltd increased its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 1,428.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,052,697 shares of the business services provider's stock after buying an additional 983,843 shares during the quarter. Copart comprises approximately 3.7% of Seilern Investment Management Ltd's portfolio, making the stock its 15th biggest holding. Seilern Investment Management Ltd owned approximately 0.11% of Copart worth $29,676,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Copart during the 4th quarter valued at about $569,569,000. Capital World Investors boosted its position in shares of Copart by 25.1% in the fourth quarter. Capital World Investors now owns 27,728,398 shares of the business services provider's stock worth $1,085,588,000 after acquiring an additional 5,555,101 shares during the last quarter. Capital International Investors purchased a new stake in Copart in the fourth quarter valued at approximately $195,637,000. Deutsche Bank AG grew its holdings in Copart by 94.0% in the fourth quarter. Deutsche Bank AG now owns 9,955,661 shares of the business services provider's stock valued at $389,764,000 after purchasing an additional 4,823,111 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Copart by 21.7% during the fourth quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider's stock worth $860,618,000 after purchasing an additional 3,918,610 shares during the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Zacks Research downgraded shares of Copart from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. Barclays set a $26.00 price objective on shares of Copart and gave the company an "underweight" rating in a research note on Tuesday, July 21st. Weiss Ratings restated a "sell (d+)" rating on shares of Copart in a report on Wednesday, July 29th. Jefferies Financial Group set a $45.00 target price on Copart in a research report on Friday, May 22nd. Finally, Freedom Capital upgraded Copart to a "strong-buy" rating in a report on Friday, June 26th. Three equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Copart has an average rating of "Hold" and a consensus price target of $43.50.

Insiders Place Their Bets

In related news, CEO Jeffrey Liaw sold 27,745 shares of the company's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the completion of the sale, the chief executive officer directly owned 99,641 shares of the company's stock, valued at approximately $3,038,054.09. This represents a 21.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 9.60% of the company's stock.

Copart Stock Up 2.2%

Shares of CPRT stock opened at $29.66 on Friday. Copart, Inc. has a fifty-two week low of $26.81 and a fifty-two week high of $50.11. The firm's 50 day moving average price is $29.42 and its two-hundred day moving average price is $33.37. The stock has a market cap of $27.46 billion, a price-to-earnings ratio of 18.42 and a beta of 1.01.

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

Copart Company 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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