M&T Bank Corp Sells 51,714 Shares of Copart, Inc. $CPRT

Key Points

• M&T Bank Corp trimmed its Copart stake by 76.2% in Q4, selling 51,714 shares and leaving it with 16,190 shares worth about $634,000.
• Copart CEO Jeffrey Liaw sold 26,213 shares on April 15 for roughly $869,747 (a 24.79% reduction), and insiders now own about 9.60% of the company.
• Copart missed recent quarterly estimates (EPS $0.36 vs. $0.39 and revenue $1.12B vs. $1.15B); MarketBeat shows a consensus rating of Moderate Buy with an average price target of $44.40 while the stock trades near $33 (52‑week range $32.20–$63.85).

M&T Bank Corp trimmed its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 76.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,190 shares of the business services provider's stock after selling 51,714 shares during the period. M&T Bank Corp's holdings in Copart were worth $634,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Copart by 13.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 371,603 shares of the business services provider's stock valued at $16,711,000 after acquiring an additional 45,346 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Copart by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 40,175,058 shares of the business services provider's stock valued at $1,806,674,000 after acquiring an additional 1,236,101 shares during the period. Yacktman Asset Management LP acquired a new position in shares of Copart in the 3rd quarter valued at $3,382,000. Comgest Global Investors S.A.S. increased its holdings in shares of Copart by 7.2% in the 3rd quarter. Comgest Global Investors S.A.S. now owns 3,181,919 shares of the business services provider's stock valued at $143,091,000 after acquiring an additional 212,520 shares during the period. Finally, Nordea Investment Management AB increased its holdings in shares of Copart by 4.1% in the 4th quarter. Nordea Investment Management AB now owns 798,087 shares of the business services provider's stock valued at $31,353,000 after acquiring an additional 31,658 shares during the period. 85.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Robert W. Baird set a $48.00 target price on shares of Copart and gave the company an "outperform" rating in a report on Friday, February 20th. Barclays reaffirmed an "underweight" rating and issued a $32.00 target price (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Copart in a report on Monday, March 23rd. JPMorgan Chase & Co. lowered their price objective on shares of Copart from $45.00 to $34.00 and set a "neutral" rating on the stock in a research report on Monday, February 23rd. Finally, Zacks Research upgraded shares of Copart from a "strong sell" rating to a "hold" rating in a research report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $44.40.

Insider Activity at Copart

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the business's stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total transaction of $869,747.34. Following the sale, the chief executive officer directly owned 79,532 shares in the company, valued at approximately $2,638,871.76. The trade was a 24.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.60% of the company's stock.

Copart Price Performance

Copart stock opened at $33.26 on Friday. The company has a market cap of $32.03 billion, a PE ratio of 20.78 and a beta of 1.02. Copart, Inc. has a 1-year low of $32.20 and a 1-year high of $63.85. The stock's 50 day moving average price is $34.31 and its 200 day moving average price is $38.31.

Copart (NASDAQ:CPRT - Get Free Report) last issued its earnings results on Thursday, February 19th. The business services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.03). The company had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.15 billion. Copart had a return on equity of 16.68% and a net margin of 33.76%.Copart'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 posted $0.40 earnings per share. On average, equities research analysts anticipate that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Copart Company 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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