Hsbc Holdings PLC Sells 213,162 Shares of Copart, Inc. $CPRT

Key Points

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Hsbc Holdings PLC lessened its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 4.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,443,656 shares of the business services provider's stock after selling 213,162 shares during the quarter. Hsbc Holdings PLC owned about 0.46% of Copart worth $251,225,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Texas Capital Bank Wealth Management Services Inc bought a new position in Copart in the 1st quarter worth approximately $251,000. Colonial Trust Advisors purchased a new stake in shares of Copart during the first quarter worth $93,000. Lincoln Capital LLC lifted its position in shares of Copart by 72.7% during the first quarter. Lincoln Capital LLC now owns 82,838 shares of the business services provider's stock worth $5,004,000 after acquiring an additional 34,884 shares in the last quarter. Aptus Capital Advisors LLC lifted its position in shares of Copart by 13.9% during the first quarter. Aptus Capital Advisors LLC now owns 273,481 shares of the business services provider's stock worth $15,476,000 after acquiring an additional 33,367 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Copart by 0.7% during the first quarter. Northern Trust Corp now owns 8,927,156 shares of the business services provider's stock worth $505,188,000 after acquiring an additional 61,855 shares in the last quarter. Institutional investors own 85.78% of the company's stock.

Copart Price Performance

CPRT stock traded up $1.28 during mid-day trading on Friday, hitting $48.96. 6,224,584 shares of the stock were exchanged, compared to its average volume of 5,697,476. The business has a fifty day moving average price of $47.34 and a 200 day moving average price of $53.59. Copart, Inc. has a 12 month low of $45.05 and a 12 month high of $64.38. The stock has a market capitalization of $47.34 billion, a price-to-earnings ratio of 32.21 and a beta of 1.04.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.23 billion. Copart had a return on equity of 18.20% and a net margin of 32.21%.The company's revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.39 EPS. As a group, equities analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Stephens assumed coverage on Copart in a research report on Tuesday, July 8th. They set an "equal weight" rating and a $50.00 target price on the stock. Robert W. Baird decreased their price target on shares of Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a report on Thursday, July 17th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $53.33.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 24,088 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 31,527 shares in the company, valued at approximately $1,463,798.61. This represents a 43.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 9.68% of the company's stock.

About Copart

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.