Narwhal Capital Management Sells 55,294 Shares of Copart, Inc. $CPRT

Narwhal Capital Management lowered its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 84.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 9,806 shares of the business services provider's stock after selling 55,294 shares during the quarter. Narwhal Capital Management's holdings in Copart were worth $384,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in 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 worth $16,711,000 after purchasing an additional 45,346 shares in the last quarter. Principal Financial Group Inc. lifted its position 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 worth $1,806,674,000 after purchasing an additional 1,236,101 shares during the period. Yacktman Asset Management LP bought a new stake in shares of Copart during the 3rd quarter valued at about $3,382,000. Comgest Global Investors S.A.S. increased its position in shares of Copart by 7.2% during the third 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 buying an additional 212,520 shares during the period. Finally, Nordea Investment Management AB increased its position in shares of Copart by 4.1% during the fourth quarter. Nordea Investment Management AB now owns 798,087 shares of the business services provider's stock valued at $31,353,000 after buying an additional 31,658 shares during the period. 85.78% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of Copart stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the completion of the transaction, the chief executive officer owned 79,532 shares in the company, valued at approximately $2,638,871.76. The trade was a 24.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.60% of the stock is currently owned by company insiders.

Copart Price Performance

NASDAQ:CPRT opened at $33.34 on Wednesday. The firm has a market capitalization of $32.12 billion, a P/E ratio of 20.84 and a beta of 1.14. Copart, Inc. has a one year low of $32.20 and a one year high of $63.85. The company's 50-day simple moving average is $34.49 and its 200 day simple moving average is $38.38.

Copart (NASDAQ:CPRT - Get Free Report) last announced its earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.03). Copart had a net margin of 33.76% and a return on equity of 16.68%. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the business posted $0.40 EPS. Copart's revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities research analysts expect that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CPRT. JPMorgan Chase & Co. decreased their price target 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. Barclays reiterated an "underweight" rating and set a $32.00 target price (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Zacks Research raised Copart from a "strong sell" rating to a "hold" rating in a research report on Monday. Weiss Ratings restated a "hold (c-)" rating on shares of Copart in a research note on Monday, March 23rd. Finally, Robert W. Baird set a $48.00 price target on Copart and gave the company an "outperform" rating in a research report on Friday, February 20th. Two 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 stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average 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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