Shell Asset Management Co. Has $8.24 Million Stake in Copart, Inc. $CPRT

Key Points

• Shell Asset Management Co. increased its stake in Copart, Inc. by 6.7% in Q2, holding a total of 167,910 shares valued at approximately $8.24 million.
• CEO Jeffrey Liaw and Director Thomas N. Tryforos both sold significant amounts of stock, with Liaw's sale representing a 43.31% decrease in his position.
• Analysts have mixed opinions on Copart, with price targets ranging from $46.00 to $62.00, indicating varied outlooks on the stock's performance.

Shell Asset Management Co. lifted its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 6.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 167,910 shares of the business services provider's stock after acquiring an additional 10,559 shares during the period. Shell Asset Management Co.'s holdings in Copart were worth $8,239,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cloud Capital Management LLC acquired a new position in shares of Copart during the first quarter valued at about $26,000. Atticus Wealth Management LLC acquired a new position in Copart during the 2nd quarter worth approximately $31,000. Ameritas Advisory Services LLC bought a new position in Copart in the second quarter worth approximately $31,000. Accent Capital Management LLC acquired a new stake in Copart in the first quarter valued at approximately $36,000. Finally, Financial Network Wealth Advisors LLC raised its position in shares of Copart by 152.6% during the first quarter. Financial Network Wealth Advisors LLC now owns 783 shares of the business services provider's stock worth $44,000 after purchasing an additional 473 shares during the period. 85.78% of the stock is owned by institutional investors.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 24,088 shares of the firm's 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 sale, the chief executive officer directly owned 31,527 shares of the company's stock, valued at $1,463,798.61. This trade represents a 43.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas N. Tryforos sold 228,840 shares of Copart stock in a transaction 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 disclosure for this sale can be found here. 9.68% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on CPRT shares. Stephens decreased their price target on shares of Copart from $50.00 to $46.00 and set an "equal weight" rating for the company in a research note on Friday, September 5th. HSBC set a $62.00 target price on shares of Copart and gave the stock a "buy" rating in a research report on Thursday, September 4th. Robert W. Baird dropped their price target on shares of Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday, July 17th. Hsbc Global Res upgraded Copart from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 4th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Copart in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $54.50.

Copart Stock Performance

Shares of CPRT stock opened at $44.45 on Tuesday. The company has a market capitalization of $43.02 billion, a price-to-earnings ratio of 27.78 and a beta of 1.03. Copart, Inc. has a 52-week low of $44.12 and a 52-week high of $64.38. The company has a 50-day simple moving average of $46.93 and a two-hundred day simple moving average of $51.54.

Copart (NASDAQ:CPRT - Get Free Report) last announced its earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.04. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.14 billion. Copart had a return on equity of 18.17% and a net margin of 33.41%.The company's revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 EPS. On average, sell-side analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal 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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