Copart, Inc. $CPRT is Gobi Capital LLC's 4th Largest Position

Key Points

• Gobi Capital LLC reduced its stake in Copart, Inc. by 11.7%, selling 377,775 shares, and now holds 2,846,221 shares, making it the 4th largest holding in their portfolio.
• Analysts have mixed views on Copart, with a consensus rating of "Hold" and a target price of $53.33, while some firms have lowered their target prices for the stock.
• Insider transactions indicate CEO Jeffrey Liaw sold 24,088 shares for approximately $1.12 million, reflecting a 43.31% decrease in his ownership of the company.

Gobi Capital LLC cut its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 11.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,846,221 shares of the business services provider's stock after selling 377,775 shares during the quarter. Copart makes up approximately 9.2% of Gobi Capital LLC's investment portfolio, making the stock its 4th largest position. Gobi Capital LLC owned approximately 0.29% of Copart worth $161,068,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of Copart by 92.1% during the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider's stock worth $816,000 after buying an additional 6,817 shares during the period. Lido Advisors LLC raised its stake in shares of Copart by 46.9% during the 4th quarter. Lido Advisors LLC now owns 17,307 shares of the business services provider's stock worth $993,000 after buying an additional 5,528 shares during the period. Keel Point LLC raised its stake in shares of Copart by 12.0% during the 4th quarter. Keel Point LLC now owns 5,810 shares of the business services provider's stock worth $333,000 after buying an additional 624 shares during the period. Itau Unibanco Holding S.A. raised its stake in shares of Copart by 340.4% during the 4th quarter. Itau Unibanco Holding S.A. now owns 916 shares of the business services provider's stock worth $53,000 after buying an additional 708 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its stake in shares of Copart by 23.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 64,478 shares of the business services provider's stock worth $3,700,000 after buying an additional 12,262 shares during the period. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Stock Performance

Shares of CPRT traded up $0.06 during trading hours on Monday, hitting $48.81. 5,330,175 shares of the stock were exchanged, compared to its average volume of 5,537,744. Copart, Inc. has a 12-month low of $45.05 and a 12-month high of $64.38. The company has a market cap of $47.20 billion, a price-to-earnings ratio of 32.11 and a beta of 1.03. The stock's 50-day moving average price is $47.43 and its two-hundred day moving average price is $53.02.

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 24,088 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the completion of the sale, the chief executive officer directly owned 31,527 shares in the company, valued at approximately $1,463,798.61. The trade was a 43.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.68% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CPRT. JPMorgan Chase & Co. reduced their target price on Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Robert W. Baird reduced their target price on Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a research note on Thursday, July 17th. Finally, Stephens began coverage on Copart in a research note on Tuesday, July 8th. They set an "equal weight" rating and a $50.00 target price for the company. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $53.33.

Copart Company 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.