Copart, Inc. (NASDAQ:CPRT) Shares Sold by Commerce Bank

Key Points

• Commerce Bank has reduced its stake in Copart, Inc. by 4.4%, leaving it with 199,758 shares valued at approximately $11.3 million.
• Copart's quarterly earnings met analysts' expectations with earnings per share of $0.42, though revenue fell short of projections at $1.21 billion.
• Insider transactions showed CEO Jeffrey Liaw sold 24,088 shares, a 43.31% decrease in his ownership, while institutional investors collectively own 85.78% of the stock.

Commerce Bank lowered its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 4.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 199,758 shares of the business services provider's stock after selling 9,270 shares during the quarter. Commerce Bank's holdings in Copart were worth $11,304,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cloud Capital Management LLC acquired a new stake in shares of Copart during the 1st quarter worth approximately $26,000. Sunbelt Securities Inc. acquired a new stake in Copart in the 4th quarter valued at about $31,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Copart in the 4th quarter valued at approximately $45,000. Versant Capital Management Inc lifted its holdings in Copart by 1,567.9% during the 1st quarter. Versant Capital Management Inc now owns 884 shares of the business services provider's stock worth $50,000 after buying an additional 831 shares during the last quarter. Finally, Cornerstone Planning Group LLC boosted its holdings in Copart by 51.3% in the first quarter. Cornerstone Planning Group LLC now owns 829 shares of the business services provider's stock valued at $51,000 after purchasing an additional 281 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company's stock.

Insider Buying and Selling at Copart

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 31,527 shares in the company, valued at $1,463,798.61. The trade was a 43.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.68% of the stock is owned by corporate insiders.

Copart Price Performance

CPRT traded up $0.23 during trading on Monday, hitting $45.74. The company's stock had a trading volume of 5,246,862 shares, compared to its average volume of 5,701,871. Copart, Inc. has a twelve month low of $45.05 and a twelve month high of $64.38. The stock has a market cap of $44.23 billion, a PE ratio of 30.09 and a beta of 1.04. The firm's 50 day moving average price is $48.47 and its 200-day moving average price is $54.57.

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

Analyst Ratings Changes

A number of brokerages have weighed in on CPRT. JPMorgan Chase & Co. reduced their price objective 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 decreased their target price on shares of Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday, July 17th. Finally, Stephens assumed coverage on Copart in a report on Tuesday, July 8th. They set an "equal weight" rating and a $50.00 price objective for the company.

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.