Oliver Luxxe Assets LLC Has $665,000 Holdings in Copart, Inc. $CPRT

Key Points

• Oliver Luxxe Assets LLC reduced its holdings in Copart, Inc. by 93.1%, now owning 13,542 shares valued at $665,000.
• Vanguard Group, Principal Financial Group, and JPMorgan Chase significantly increased their positions in Copart during the first quarter, indicating strong institutional interest in the stock.
• Copart recently reported earnings of $0.41 EPS, surpassing analyst estimates, with revenue of $1.13 billion for the quarter.

Oliver Luxxe Assets LLC lessened its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 93.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,542 shares of the business services provider's stock after selling 184,000 shares during the quarter. Oliver Luxxe Assets LLC's holdings in Copart were worth $665,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Copart by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider's stock worth $5,900,295,000 after purchasing an additional 2,134,890 shares in the last quarter. Principal Financial Group Inc. grew its position in Copart by 3.3% during the 1st quarter. Principal Financial Group Inc. now owns 39,409,377 shares of the business services provider's stock worth $2,230,177,000 after acquiring an additional 1,249,687 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Copart by 15.9% in the 1st quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider's stock valued at $868,417,000 after buying an additional 2,106,656 shares during the last quarter. Invesco Ltd. boosted its position in Copart by 7.5% in the 1st quarter. Invesco Ltd. now owns 9,490,237 shares of the business services provider's stock valued at $537,052,000 after buying an additional 658,329 shares during the last quarter. Finally, Amundi boosted its position in Copart by 32.5% in the 1st quarter. Amundi now owns 9,380,026 shares of the business services provider's stock valued at $531,256,000 after buying an additional 2,299,192 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company's stock.

Insider Activity at Copart

In related news, Director Thomas N. Tryforos sold 228,840 shares of the business's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $47.54, for a total value of $10,879,053.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey Liaw sold 24,088 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total value 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. This trade represents a 43.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.68% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on CPRT. HSBC set a $62.00 price target on Copart and gave the stock a "buy" rating in a research report 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. Robert W. Baird dropped their price target on Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a research note on Thursday, July 17th. Finally, Stephens decreased their price objective on Copart from $50.00 to $46.00 and set an "equal weight" rating for the company in a report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $54.50.

Copart Trading Down 1.0%

Shares of CPRT stock opened at $45.38 on Tuesday. The stock has a market cap of $43.88 billion, a P/E ratio of 28.36 and a beta of 1.03. The stock has a 50 day simple moving average of $47.19 and a 200 day simple moving average of $52.12. Copart, Inc. has a 1 year low of $45.05 and a 1 year high of $64.38.

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, beating the consensus estimate of $0.37 by $0.04. The business had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.14 billion. Copart had a return on equity of 18.17% and a net margin of 33.41%.The firm's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.33 earnings per share. Analysts forecast 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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