Copart, Inc. (NASDAQ:CPRT) Stock Position Lowered by Alapocas Investment Partners Inc.

Key Points

• Alapocas Investment Partners Inc. has reduced its holdings in Copart, Inc. by 2.7%, owning 193,642 shares valued at approximately $10.96 million, making it the 6th largest holding in their portfolio.
• Analyst reports show fluctuations in price targets for Copart, with Robert W. Baird lowering its target from $64 to $55 and JPMorgan Chase dropping theirs from $60 to $55.
• CEO Jeffrey Liaw sold 24,088 shares at an average price of $46.43, marking a 43.31% decrease in his ownership, leaving him with 31,527 shares valued at approximately $1.46 million.

Alapocas Investment Partners Inc. decreased its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 2.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 193,642 shares of the business services provider's stock after selling 5,345 shares during the quarter. Copart comprises approximately 6.7% of Alapocas Investment Partners Inc.'s holdings, making the stock its 6th biggest holding. Alapocas Investment Partners Inc.'s holdings in Copart were worth $10,958,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CPRT. Deutsche Bank AG boosted its holdings in Copart by 17.9% in the 1st quarter. Deutsche Bank AG now owns 5,456,112 shares of the business services provider's stock worth $308,761,000 after acquiring an additional 829,381 shares during the period. Chicago Partners Investment Group LLC lifted its position in shares of Copart by 32.6% during the first quarter. Chicago Partners Investment Group LLC now owns 8,712 shares of the business services provider's stock worth $534,000 after purchasing an additional 2,144 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Copart by 4.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 5,742,226 shares of the business services provider's stock valued at $324,954,000 after purchasing an additional 248,553 shares during the period. ASR Vermogensbeheer N.V. acquired a new stake in Copart during the 1st quarter valued at $1,237,000. Finally, Nicholas Hoffman & Company LLC. grew its holdings in Copart by 4.2% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 10,400 shares of the business services provider's stock valued at $589,000 after purchasing an additional 420 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CPRT has been the subject of a number of analyst reports. Stephens started coverage on shares of Copart in a research report on Tuesday, July 8th. They issued an "equal weight" rating and a $50.00 price objective for the company. Robert W. Baird reduced their price target on 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. dropped their price objective on Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd.

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 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 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 document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 9.68% of the company's stock.

Copart Price Performance

Shares of CPRT stock opened at $47.11 on Thursday. The firm has a fifty day moving average of $48.09 and a two-hundred day moving average of $54.39. The firm has a market cap of $45.55 billion, a P/E ratio of 30.99 and a beta of 1.04. Copart, Inc. has a 1-year low of $45.05 and a 1-year high of $64.38.

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.