Copart, Inc. $CPRT Shares Bought by DRW Securities LLC

Key Points

• DRW Securities LLC raised its stake in Copart, Inc. by 100.2%, acquiring an additional 7,164 shares, bringing its total holdings to 14,316 shares worth approximately $810,000.
• Institutional investors own a significant portion of Copart, with 85.78% of the stock held by these entities, reflecting widespread confidence in the company's performance.
• Analysts have recently adjusted their price targets for Copart, with Robert W. Baird lowering its target from $64.00 to $55.00 while maintaining an "outperform" rating.

DRW Securities LLC boosted its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 100.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,316 shares of the business services provider's stock after purchasing an additional 7,164 shares during the quarter. DRW Securities LLC's holdings in Copart were worth $810,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Copart by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider's stock valued at $5,900,295,000 after purchasing an additional 2,134,890 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Copart by 3.3% in the 1st quarter. Principal Financial Group Inc. now owns 39,409,377 shares of the business services provider's stock valued at $2,230,177,000 after buying an additional 1,249,687 shares during the period. JPMorgan Chase & Co. grew its holdings in Copart by 15.9% in the 1st quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider's stock valued at $868,417,000 after buying an additional 2,106,656 shares during the period. Invesco Ltd. grew its holdings in Copart by 7.5% in the 1st quarter. Invesco Ltd. now owns 9,490,237 shares of the business services provider's stock valued at $537,052,000 after buying an additional 658,329 shares during the period. Finally, Northern Trust Corp grew its holdings in Copart by 0.7% in the 1st quarter. Northern Trust Corp now owns 8,927,156 shares of the business services provider's stock valued at $505,188,000 after buying an additional 61,855 shares during the period. Institutional investors and hedge funds own 85.78% of the company's stock.

Insider Buying and Selling

In related news, CEO Jeffrey Liaw sold 24,088 shares of the business's stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 31,527 shares of the company's stock, valued at approximately $1,463,798.61. The trade was a 43.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 9.68% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. JPMorgan Chase & Co. lowered their price target on Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. HSBC set a $62.00 price target on Copart and gave the company a "buy" rating in a report on Thursday. Stephens lowered their price target on Copart from $50.00 to $46.00 and set an "equal weight" rating for the company in a report on Friday. Finally, Robert W. Baird lowered 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. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $54.50.

Copart Price Performance

Copart stock traded down $1.40 during midday trading on Friday, hitting $48.57. 17,487,125 shares of the company were exchanged, compared to its average volume of 5,770,420. The company's fifty day moving average price is $47.46 and its 200-day moving average price is $52.89. The company has a market cap of $46.96 billion, a PE ratio of 31.95 and a beta of 1.03. Copart, Inc. has a fifty-two week low of $45.05 and a fifty-two week high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.37 by $0.04. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.14 billion. Copart had a return on equity of 18.20% and a net margin of 32.21%.Copart's revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.33 EPS. On average, analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal 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.