Mitchell Capital Management Co. Has $300,000 Stock Position in Copart, Inc. $CPRT

Key Points

• Mitchell Capital Management Co. drastically reduced its holdings in Copart, Inc. by 94.8%, owning only 6,527 shares valued at approximately $300,000 by the end of Q2.
• Copart's CEO, Jeffrey Liaw, and Director Thomas N. Tryforos sold significant portions of their shares, with Liaw's sale reducing his ownership by 43.31% and Tryforos cashing out 228,840 shares for over $10.8 million.
• Analysts have a mixed outlook on Copart, with price targets ranging from $46 to $62, and a consensus rating of "Moderate Buy" reflecting differing projections for the company's growth.

Mitchell Capital Management Co. reduced its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 94.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,527 shares of the business services provider's stock after selling 118,491 shares during the quarter. Mitchell Capital Management Co.'s holdings in Copart were worth $300,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. GC Wealth Management RIA LLC acquired a new position in Copart during the 2nd quarter worth approximately $219,000. Sowell Financial Services LLC purchased a new stake in shares of Copart in the first quarter worth approximately $604,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Copart by 52.2% in 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 purchasing an additional 8,181 shares during the last quarter. Private Trust Co. NA raised its stake in shares of Copart by 16.5% in the first quarter. Private Trust Co. NA now owns 4,142 shares of the business services provider's stock worth $234,000 after purchasing an additional 586 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Copart by 15.9% in the first quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider's stock worth $868,417,000 after purchasing an additional 2,106,656 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 Copart news, CEO Jeffrey Liaw sold 24,088 shares of the stock in a transaction 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 completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas N. Tryforos sold 228,840 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $47.54, for a total value of $10,879,053.60. The disclosure for this sale can be found here. 9.68% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. HSBC set a $62.00 price objective on Copart and gave the stock a "buy" rating in a research note on Thursday, September 4th. Hsbc Global Res raised Copart from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 4th. Stephens lowered their price objective on Copart from $50.00 to $46.00 and set an "equal weight" rating for the company in a research note on Friday, September 5th. Weiss Ratings reissued a "hold (c)" rating on shares of Copart in a research note on Wednesday, October 8th. Finally, Robert W. Baird reduced their target price on Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Copart has a consensus rating of "Moderate Buy" and an average target price of $54.50.

Copart Stock Down 0.4%

Shares of CPRT stock opened at $43.88 on Monday. The company has a 50 day moving average of $46.80 and a 200-day moving average of $51.23. Copart, Inc. has a 12-month low of $43.71 and a 12-month high of $64.38. The firm has a market cap of $42.46 billion, a P/E ratio of 27.43 and a beta of 1.03.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.04. Copart had a net margin of 33.41% and a return on equity of 18.17%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the business posted $0.33 EPS. Copart's quarterly revenue was up 2.9% compared to the same quarter last year. As a group, equities analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

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.

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