Natixis Advisors LLC Acquires 132,758 Shares of Copart, Inc. (NASDAQ:CPRT)

Key Points

• Natixis Advisors LLC increased its holdings in Copart, Inc. by 8.4%, owning approximately 1.7 million shares valued at $97.2 million as of the latest SEC filing.
• Analysts have revised target prices for Copart, with JPMorgan Chase & Co. setting a new target of $55.00 and rating the stock as "neutral."
• Copart's CEO, Jeffrey Liaw, sold 24,088 shares at a price of $46.43, reducing his holdings by 43.31%.

Natixis Advisors LLC raised its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 8.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,717,355 shares of the business services provider's stock after buying an additional 132,758 shares during the period. Natixis Advisors LLC owned about 0.18% of Copart worth $97,185,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in shares of Copart by 3.3% in the first quarter. Principal Financial Group Inc. now owns 39,409,377 shares of the business services provider's stock worth $2,230,177,000 after acquiring an additional 1,249,687 shares during the period. Edgewood Management LLC lifted its holdings in shares of Copart by 14.1% in the fourth quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider's stock worth $1,346,548,000 after buying an additional 2,907,405 shares in the last quarter. Capital World Investors lifted its holdings in shares of Copart by 0.8% in the fourth quarter. Capital World Investors now owns 21,353,932 shares of the business services provider's stock worth $1,225,502,000 after buying an additional 169,354 shares in the last quarter. Geode Capital Management LLC raised its stake in Copart by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 19,172,603 shares of the business services provider's stock valued at $1,097,153,000 after purchasing an additional 408,677 shares in the last quarter. Finally, FMR LLC raised its stake in Copart by 2.7% during the fourth quarter. FMR LLC now owns 14,504,704 shares of the business services provider's stock valued at $832,425,000 after purchasing an additional 380,691 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company's stock.

Wall Street Analyst Weigh In

CPRT has been the subject of several recent analyst reports. Stephens assumed coverage on shares of Copart in a research note on Tuesday, July 8th. They issued an "equal weight" rating and a $50.00 target price for the company. Robert W. Baird cut their target price 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. Finally, JPMorgan Chase & Co. cut their price target on shares of Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a report on Friday, May 23rd.

Copart Stock Up 0.4%

NASDAQ CPRT traded up $0.18 during trading hours on Friday, hitting $45.51. The company had a trading volume of 5,688,018 shares, compared to its average volume of 6,986,555. Copart, Inc. has a fifty-two week low of $45.05 and a fifty-two week high of $64.38. The business has a fifty day simple moving average of $48.47 and a 200-day simple moving average of $54.60. The firm has a market cap of $44.01 billion, a P/E ratio of 29.94 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, hitting analysts' consensus estimates of $0.42. The firm had revenue of $1.21 billion during 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 business's quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the company posted $0.39 EPS. Equities analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 24,088 shares of the firm's 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 sale, the chief executive officer owned 31,527 shares of the company's stock, valued at $1,463,798.61. This trade represents a 43.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.