Gulf International Bank UK Ltd Sells 17,761 Shares of Copart, Inc. (NASDAQ:CPRT)

Key Points

• Gulf International Bank UK Ltd reduced its holdings in Copart, Inc. by 26.4% in Q1, now owning 49,507 shares valued at $2.80 million.
• Several institutional investors, including Nuveen LLC and Vanguard Group Inc., have either added to or increased stakes in Copart, highlighting strong institutional interest in the company.
• Analysts have adjusted price targets for Copart, with JPMorgan reducing it from $60.00 to $55.00, indicating a cautious outlook on the stock's performance.

Gulf International Bank UK Ltd decreased its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 26.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,507 shares of the business services provider's stock after selling 17,761 shares during the quarter. Gulf International Bank UK Ltd's holdings in Copart were worth $2,801,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cloud Capital Management LLC acquired a new position in shares of Copart in the first quarter valued at approximately $26,000. Sunbelt Securities Inc. bought a new position in Copart during the 4th quarter worth approximately $31,000. Accent Capital Management LLC bought a new position in Copart during the 1st quarter worth approximately $36,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in Copart during the 4th quarter worth approximately $45,000. Finally, SouthState Corp bought a new position in Copart during the 1st quarter worth approximately $45,000. Institutional investors own 85.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Stephens assumed coverage on shares of Copart in a research report on Tuesday, July 8th. They set an "equal weight" rating and a $50.00 price objective for the company. Robert W. Baird reduced their price target on shares of Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a research report on Thursday, July 17th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd.

Insider Buying and Selling at Copart

In related news, CEO Jeffrey Liaw sold 24,088 shares of the company'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 value of $1,118,405.84. Following the transaction, the chief executive officer directly owned 31,527 shares in the company, valued at approximately $1,463,798.61. This represents 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 accessible through the SEC website. Company insiders own 9.68% of the company's stock.

Copart Stock Up 0.5%

NASDAQ:CPRT traded up $0.22 during trading hours on Friday, hitting $47.08. 4,688,357 shares of the company traded hands, compared to its average volume of 5,882,411. The firm's 50-day simple moving average is $47.55 and its 200-day simple moving average is $53.88. Copart, Inc. has a one year low of $45.05 and a one year high of $64.38. The company has a market cap of $45.52 billion, a PE ratio of 30.97 and a beta of 1.04.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, meeting the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.23 billion. During the same period last year, the business earned $0.39 EPS. The business's revenue was up 7.5% on a year-over-year basis. As a group, equities research 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.