Flossbach Von Storch SE Takes Position in Copart, Inc. $CPRT

Key Points

• Flossbach Von Storch SE bought 2.5 million Copart shares worth approximately $70.5 million during the second quarter, representing about 0.27% of the company. Institutional investors collectively own 85.78% of CPRT.
• Copart reported quarterly EPS of $0.43, beating estimates by $0.02, while revenue reached $1.24 billion and increased 2.1% year over year. The stock opened at $33.85, with a market capitalization of roughly $31.3 billion.
• Analyst views remain mixed, ranging from strong buy to strong sell; the stock carries a consensus rating of Hold and an average price target of $43.50. CEO Jeffrey Liaw also sold 27,745 shares, reducing his holdings by 21.78%.

Flossbach Von Storch SE bought a new stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,501,307 shares of the business services provider's stock, valued at approximately $70,512,000. Flossbach Von Storch SE owned about 0.27% of Copart as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Versant Capital Management Inc boosted its holdings in Copart by 110.9% during the 2nd quarter. Versant Capital Management Inc now owns 947 shares of the business services provider's stock worth $27,000 after acquiring an additional 498 shares during the last quarter. Cache Advisors LLC bought a new position in shares of Copart during the first quarter valued at about $31,000. Reflection Asset Management bought a new position in shares of Copart during the fourth quarter valued at about $34,000. Elevation Wealth Partners LLC boosted its holdings in Copart by 882.3% during the second quarter. Elevation Wealth Partners LLC now owns 1,218 shares of the business services provider's stock worth $34,000 after purchasing an additional 1,094 shares during the last quarter. Finally, Triumph Capital Management boosted its stake in shares of Copart by 424.2% in the 4th quarter. Triumph Capital Management now owns 1,017 shares of the business services provider's stock worth $40,000 after buying an additional 823 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total transaction of $845,945.05. Following the completion of the transaction, the chief executive officer owned 99,641 shares of the company's stock, valued at $3,038,054.09. The trade was a 21.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 9.60% of the stock is currently owned by corporate insiders.

Copart Trading Up 7.4%

CPRT opened at $33.85 on Thursday. Copart, Inc. has a 12 month low of $26.81 and a 12 month high of $50.11. The company has a market cap of $31.34 billion, a PE ratio of 21.02 and a beta of 1.01. The company has a 50 day moving average of $29.37 and a 200 day moving average of $32.74.

Copart (NASDAQ:CPRT - Get Free Report) last posted its earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.19 billion. Copart had a return on equity of 16.63% and a net margin of 33.48%.The business's quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.42 earnings per share. Research analysts forecast that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CPRT shares. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Copart in a report on Wednesday, July 29th. Freedom Capital raised Copart to a "strong-buy" rating in a research report on Friday, June 26th. Jefferies Financial Group set a $45.00 price objective on Copart in a research note on Friday, May 22nd. Zacks Research lowered Copart from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 28th. Finally, Barclays set a $26.00 target price on Copart and gave the stock an "underweight" rating in a research note on Tuesday, July 21st. Three equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $43.50.

Copart Profile

Copart NASDAQ: CPRT is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart's business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.

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