Copart, Inc. $CPRT Shares Sold by Sienna Gestion

Key Points

• Sienna Gestion has reduced its holdings in Copart, Inc. by 5.6%, now owning 139,147 shares worth approximately $7.65 million.
• Other institutional investors have increased their stakes, with E Fund Management Co. Ltd. growing its stake by 79.7% to own 28,385 shares valued at $1.61 million.
• Copart's latest earnings report showed $0.42 EPS and $1.21 billion in revenue, meeting analyst estimates but falling short of revenue expectations by $20 million.

Sienna Gestion trimmed its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 5.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 139,147 shares of the business services provider's stock after selling 8,273 shares during the period. Sienna Gestion's holdings in Copart were worth $7,654,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Nuveen LLC purchased a new position in shares of Copart during the 1st quarter worth about $267,723,000. Fiera Capital Corp boosted its stake in shares of Copart by 195.6% during the 1st quarter. Fiera Capital Corp now owns 3,992,610 shares of the business services provider's stock worth $225,942,000 after purchasing an additional 2,642,100 shares during the period. Vanguard Group Inc. boosted its stake in shares of Copart by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider's stock worth $5,900,295,000 after purchasing an additional 2,134,890 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Copart by 15.9% during the 1st quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider's stock worth $868,417,000 after purchasing an additional 2,106,656 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Copart by 3.3% during the 1st quarter. Principal Financial Group Inc. now owns 39,409,377 shares of the business services provider's stock worth $2,230,177,000 after purchasing an additional 1,249,687 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Price Performance

Shares of CPRT traded up $0.28 during mid-day trading on Monday, reaching $47.36. The stock had a trading volume of 6,023,005 shares, compared to its average volume of 5,686,075. The firm has a market cap of $45.79 billion, a price-to-earnings ratio of 31.16 and a beta of 1.04. The business's fifty day moving average is $47.55 and its 200 day moving average is $53.82. Copart, Inc. has a 52-week low of $45.05 and a 52-week high of $64.38.

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

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 24,088 shares of the company's stock in a transaction on Tuesday, July 15th. The shares were 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 of the company's stock, valued at $1,463,798.61. This represents a 43.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.68% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CPRT shares. Robert W. Baird decreased their price objective on shares of Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a report on Thursday, July 17th. Stephens began coverage on shares of Copart in a research note on Tuesday, July 8th. They set an "equal weight" rating and a $50.00 price objective for the company. Finally, JPMorgan Chase & Co. dropped their target price on shares of Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd.

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.