Jackson Square Partners LLC Sells 6,435 Shares of Copart, Inc. (NASDAQ:CPRT)

Key Points

• Jackson Square Partners LLC has reduced its stake in Copart, Inc. by 8.2% during the first quarter, owning 72,143 shares worth approximately $4.08 million after selling 6,435 shares.
• Other institutional investors, such as Fiera Capital Corp and Vanguard Group Inc., have increased their stakes in Copart significantly, indicating strong interest from multiple hedge funds.
• CEO Jeffrey Liaw sold 24,088 shares of the stock for about $1.12 million, which represents a 43.31% decrease in his ownership position.

Jackson Square Partners LLC cut its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 8.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 72,143 shares of the business services provider's stock after selling 6,435 shares during the period. Jackson Square Partners LLC's holdings in Copart were worth $4,083,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Deutsche Bank AG boosted its position in Copart by 17.9% during the first quarter. Deutsche Bank AG now owns 5,456,112 shares of the business services provider's stock valued at $308,761,000 after purchasing an additional 829,381 shares during the last quarter. Chicago Partners Investment Group LLC boosted its position in 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 valued at $534,000 after purchasing an additional 2,144 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position 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 buying an additional 248,553 shares during the last quarter. ASR Vermogensbeheer N.V. acquired a new stake in shares of Copart in the first quarter valued at approximately $1,237,000. Finally, Nicholas Hoffman & Company LLC. lifted its position in shares of Copart by 4.2% in the first quarter. Nicholas Hoffman & Company LLC. now owns 10,400 shares of the business services provider's stock valued at $589,000 after buying an additional 420 shares during the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 24,088 shares of the 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 owned 31,527 shares in the company, valued at approximately $1,463,798.61. This trade represents a 43.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.68% of the company's stock.

Copart Stock Performance

Shares of NASDAQ CPRT traded up $0.08 during trading hours on Friday, reaching $46.19. 4,456,258 shares of the stock were exchanged, compared to its average volume of 7,234,819. The firm has a market capitalization of $44.66 billion, a price-to-earnings ratio of 30.39 and a beta of 1.04. Copart, Inc. has a 52 week low of $45.05 and a 52 week high of $64.38. The stock's fifty day simple moving average is $47.88 and its 200 day simple moving average is $54.24.

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 for the quarter, hitting analysts' consensus estimates of $0.42. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.23 billion. Copart had a return on equity of 18.20% and a net margin of 32.21%. The firm's quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 earnings per share. Research analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on 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. 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. Finally, Stephens assumed coverage on Copart in a research report on Tuesday, July 8th. They issued an "equal weight" rating and a $50.00 price objective for the company.

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.