Korea Investment CORP Has $28.31 Million Stock Holdings in Copart, Inc. $CPRT

Key Points

• Korea Investment CORP decreased its stake in Copart, Inc. by 5.6%, selling 29,464 shares and retaining ownership of 500,202 shares valued at approximately $28.3 million.
• CEO Jeffrey Liaw sold 24,088 shares at an average price of $46.43, reducing his ownership in the company by 43.31%.
• Research firms have adjusted their price targets for Copart, with Robert W. Baird lowering their target from $64.00 to $55.00 and setting an "outperform" rating on the stock.

Korea Investment CORP lowered its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 5.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 500,202 shares of the business services provider's stock after selling 29,464 shares during the period. Korea Investment CORP owned approximately 0.05% of Copart worth $28,306,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Cloud Capital Management LLC acquired a new stake in shares of Copart during the first quarter valued at $26,000. Sunbelt Securities Inc. acquired a new position in Copart during the fourth quarter valued at approximately $31,000. Accent Capital Management LLC purchased a new position in Copart in the first quarter valued at about $36,000. Financial Network Wealth Advisors LLC raised its stake in shares of Copart by 152.6% during the first quarter. Financial Network Wealth Advisors LLC now owns 783 shares of the business services provider's stock valued at $44,000 after purchasing an additional 473 shares during the period. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Copart during the 4th quarter worth $45,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Copart

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of Copart stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the completion of the sale, the chief executive officer 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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 9.68% of the company's stock.

Copart Stock Performance

Shares of CPRT stock traded up $1.28 during mid-day trading on Friday, reaching $48.96. The company's stock had a trading volume of 6,224,584 shares, compared to its average volume of 5,532,967. Copart, Inc. has a 1-year low of $45.05 and a 1-year high of $64.38. The firm's 50-day moving average is $47.34 and its two-hundred day moving average is $53.53. The company has a market cap of $47.34 billion, a P/E ratio of 32.21 and a beta of 1.04.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.23 billion. Copart had a net margin of 32.21% and a return on equity of 18.20%. The company's revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the business posted $0.39 earnings per share. Sell-side analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. 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. JPMorgan Chase & Co. decreased their price target 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, Stephens assumed 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. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $53.33.

About Copart

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.