Headlands Technologies LLC Has $831,000 Stake in Copart, Inc. (NASDAQ:CPRT)

Key Points

• Headlands Technologies LLC reduced its stake in Copart, Inc. by 52% during Q1, now holding shares worth $831,000 after selling 15,904 shares.
• In a recent transaction, Copart's CEO Jeffrey Liaw sold 24,088 shares for approximately $1.12 million, decreasing his position by 43.31%.
• Analysts have adjusted their price targets for Copart, with Stephens setting a new target at $50.00 and Robert W. Baird lowering theirs from $64.00 to $55.00.

Headlands Technologies LLC reduced its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 52.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,687 shares of the business services provider's stock after selling 15,904 shares during the quarter. Headlands Technologies LLC's holdings in Copart were worth $831,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CPRT. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Copart by 289.6% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 34,322 shares of the business services provider's stock valued at $1,970,000 after purchasing an additional 25,512 shares during the last quarter. Sowell Financial Services LLC acquired a new position in shares of Copart during the first quarter worth approximately $604,000. China Universal Asset Management Co. Ltd. boosted its position in shares of Copart by 52.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 23,862 shares of the business services provider's stock worth $1,350,000 after buying an additional 8,181 shares during the period. Voleon Capital Management LP acquired a new position in shares of Copart during the fourth quarter worth approximately $1,314,000. Finally, Handelsbanken Fonder AB boosted its position in shares of Copart by 53.3% during the first quarter. Handelsbanken Fonder AB now owns 854,336 shares of the business services provider's stock worth $48,347,000 after buying an additional 297,210 shares during the period. 85.78% of the stock is owned by institutional investors.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 24,088 shares of the company's stock in a transaction 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 of the company's stock, 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 legal filing with the SEC, which can be accessed through this link. Company insiders own 9.68% of the company's stock.

Copart Trading Up 0.7%

NASDAQ:CPRT traded up $0.32 during trading hours on Wednesday, hitting $47.52. 1,554,977 shares of the stock traded hands, compared to its average volume of 5,673,163. The firm has a 50 day moving average price of $47.73 and a 200 day moving average price of $54.07. Copart, Inc. has a fifty-two week low of $45.05 and a fifty-two week high of $64.38. The firm has a market cap of $45.94 billion, a price-to-earnings ratio of 31.29 and a beta of 1.04.

Copart (NASDAQ:CPRT - Get Free Report) last announced its earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. Copart had a net margin of 32.21% and a return on equity of 18.20%. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the business earned $0.39 EPS. The company's revenue was up 7.5% on a year-over-year basis. Research analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Analyst Upgrades and Downgrades

CPRT has been the subject of a number of research analyst reports. Stephens initiated coverage on Copart in a research report on Tuesday, July 8th. They issued an "equal weight" rating and a $50.00 target price for the company. JPMorgan Chase & Co. cut their price objective on Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Finally, Robert W. Baird cut their price objective on Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a research report on Thursday, July 17th.

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.