Copart, Inc. $CPRT Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE has reduced its holdings in Copart, Inc. by 4.1% in the second quarter, owning 1,432,618 shares valued at approximately $70.3 million.
• Recently, multiple analysts have provided updated ratings for Copart, with HSBC raising it to a "strong-buy" and setting a price target of $62, while others lowered their expectations.
• Copart reported quarterly earnings of $0.41 per share, exceeding estimates, but its revenue of $1.13 billion slightly missed analyst predictions.

US Bancorp DE reduced its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 4.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,432,618 shares of the business services provider's stock after selling 60,894 shares during the quarter. US Bancorp DE owned 0.15% of Copart worth $70,299,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Cloud Capital Management LLC bought a new stake in Copart during the 1st quarter valued at $26,000. Atticus Wealth Management LLC bought a new stake in Copart during the 2nd quarter valued at $31,000. Ameritas Advisory Services LLC bought a new stake in Copart during the 2nd quarter valued at $31,000. Accent Capital Management LLC bought a new stake in Copart during the 1st quarter valued at $36,000. Finally, Financial Network Wealth Advisors LLC raised its stake in Copart by 152.6% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 783 shares of the business services provider's stock valued at $44,000 after acquiring an additional 473 shares in the last quarter. Institutional investors own 85.78% of the company's stock.

Wall Street Analyst Weigh In

CPRT has been the topic of several recent analyst reports. Hsbc Global Res raised Copart from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 4th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Copart in a research note on Wednesday. HSBC set a $62.00 price target on Copart and gave the company a "buy" rating in a research report on Thursday, September 4th. Stephens lowered their price target on Copart from $50.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Friday, September 5th. Finally, Robert W. Baird lowered their price target on Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $54.50.

Copart Stock Down 2.0%

CPRT opened at $44.04 on Friday. The firm has a market cap of $42.62 billion, a PE ratio of 27.53 and a beta of 1.03. The business has a fifty day simple moving average of $46.84 and a 200-day simple moving average of $51.37. Copart, Inc. has a fifty-two week low of $44.00 and a fifty-two week high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.04. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.14 billion. Copart had a return on equity of 18.17% and a net margin of 33.41%.The company's revenue was up 2.9% compared to the same quarter last year. During the same period last year, the company posted $0.33 EPS. On average, equities research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Buying and Selling at Copart

In other news, Director Thomas N. Tryforos sold 228,840 shares of the firm's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $47.54, for a total transaction of $10,879,053.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey Liaw sold 24,088 shares of the firm's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total value of $1,118,405.84. Following the sale, the chief executive officer directly owned 31,527 shares of the company's stock, valued at approximately $1,463,798.61. This represents a 43.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.68% of the company's stock.

Copart 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.

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