Legal & General Group Plc Has $258.55 Million Holdings in Copart, Inc. $CPRT

Key Points

• Legal & General raised its Copart stake to 5,749,271 shares (about 0.59% of the company) valued at roughly $258.55 million, and institutional investors collectively own about 85.78% of the stock.
• Copart missed quarterly estimates with $0.36 EPS vs. $0.39 expected and $1.12B revenue vs. $1.15B expected (revenue down 3.6% YoY), while the shares trade near their one‑year low (opened $35.55).
• CEO Jeffrey Liaw sold 25,137 shares for about $1.01 million (cutting his ownership ~31%), and analysts carry a consensus "Hold" rating with a $44.40 price target.

Legal & General Group Plc raised its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 5.1% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 5,749,271 shares of the business services provider's stock after purchasing an additional 276,586 shares during the period. Legal & General Group Plc owned approximately 0.59% of Copart worth $258,545,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Copart in the second quarter valued at approximately $549,448,000. Fiera Capital Corp grew its holdings in Copart by 75.3% during the second quarter. Fiera Capital Corp now owns 7,000,430 shares of the business services provider's stock worth $343,511,000 after buying an additional 3,007,820 shares in the last quarter. First Trust Advisors LP grew its holdings in Copart by 75.2% during the second quarter. First Trust Advisors LP now owns 6,579,404 shares of the business services provider's stock worth $322,851,000 after buying an additional 2,824,991 shares in the last quarter. Vanguard Group Inc. raised its position in Copart by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 108,990,652 shares of the business services provider's stock valued at $4,901,310,000 after buying an additional 2,581,784 shares during the last quarter. Finally, Jensen Investment Management Inc. raised its position in Copart by 39.4% in the 2nd quarter. Jensen Investment Management Inc. now owns 5,315,861 shares of the business services provider's stock valued at $260,849,000 after buying an additional 1,503,771 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Copart Price Performance

Shares of NASDAQ:CPRT opened at $35.55 on Thursday. Copart, Inc. has a 1 year low of $33.81 and a 1 year high of $63.85. The company has a market capitalization of $34.25 billion, a PE ratio of 22.22 and a beta of 1.09. The business has a fifty day moving average price of $38.89 and a two-hundred day moving average price of $41.63.

Copart (NASDAQ:CPRT - Get Free Report) last released its earnings results on Thursday, February 19th. The business services provider reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.03). The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.15 billion. Copart had a return on equity of 16.68% and a net margin of 33.76%.The company's revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.40 earnings per share. Sell-side analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of Copart stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $40.17, for a total value of $1,009,753.29. Following the sale, the chief executive officer owned 55,970 shares of the company's stock, valued at approximately $2,248,314.90. The trade was a 30.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 9.60% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CPRT shares. Robert W. Baird set a $48.00 price objective on shares of Copart and gave the stock an "outperform" rating in a report on Friday, February 20th. Zacks Research downgraded shares of Copart from a "hold" rating to a "strong sell" rating in a report on Tuesday, February 24th. CJS Securities raised shares of Copart to a "strong-buy" rating in a research report on Thursday, December 11th. Barclays restated an "underweight" rating and set a $32.00 price target (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Copart from $45.00 to $34.00 and set a "neutral" rating for the company in a research note on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $44.40.

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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