Copart, Inc. (NASDAQ:CPRT) Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc has reduced its stake in Copart, Inc. by 10.0%, owning 3,765,243 shares valued at approximately $213.08 million after selling 418,467 shares during the first quarter.
• CEO Jeffrey Liaw sold 24,088 shares of Copart stock, decreasing his ownership by 43.31%, with remaining shares valued at about $1.46 million.
• The stock of Copart, Inc. has a market cap of $45.15 billion and the company's most recent quarterly earnings met expectations, reporting $1.21 billion in revenue.

TD Asset Management Inc trimmed its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 10.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,765,243 shares of the business services provider's stock after selling 418,467 shares during the period. TD Asset Management Inc owned about 0.39% of Copart worth $213,075,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Brighton Jones LLC increased its position in Copart by 92.1% during the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider's stock worth $816,000 after buying an additional 6,817 shares in the last quarter. LPL Financial LLC boosted its holdings in Copart by 15.3% in the fourth quarter. LPL Financial LLC now owns 591,398 shares of the business services provider's stock valued at $33,940,000 after acquiring an additional 78,443 shares during the last quarter. Korea Investment CORP boosted its holdings in Copart by 88.9% in the fourth quarter. Korea Investment CORP now owns 529,666 shares of the business services provider's stock valued at $30,398,000 after acquiring an additional 249,262 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Copart by 5.0% in the fourth quarter. JPMorgan Chase & Co. now owns 13,239,112 shares of the business services provider's stock valued at $759,793,000 after acquiring an additional 625,586 shares during the last quarter. Finally, UniSuper Management Pty Ltd boosted its holdings in Copart by 18.7% in the fourth quarter. UniSuper Management Pty Ltd now owns 67,312 shares of the business services provider's stock valued at $3,863,000 after acquiring an additional 10,618 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Stock Performance

Shares of NASDAQ CPRT traded up $0.05 during midday trading on Wednesday, reaching $46.50. 1,718,944 shares of the company's stock were exchanged, compared to its average volume of 5,668,457. Copart, Inc. has a 52-week low of $45.52 and a 52-week high of $64.38. The stock has a market capitalization of $44.96 billion, a PE ratio of 30.60 and a beta of 1.07. The business's fifty day moving average price is $49.24 and its two-hundred day moving average price is $54.80.

Copart (NASDAQ:CPRT - Get Free Report) last announced its earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.42. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.23 billion. Copart had a return on equity of 18.20% and a net margin of 32.21%. The company's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.39 earnings per share. Analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of Copart stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total value of $1,118,405.84. Following the completion of the transaction, the chief executive officer directly owned 31,527 shares in the company, valued at $1,463,798.61. The trade was a 43.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 9.68% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CPRT has been the topic of several research reports. JPMorgan Chase & Co. cut their price objective on Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Robert W. Baird cut their price objective on Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday, July 17th. Finally, Stephens initiated coverage on Copart in a research report on Tuesday, July 8th. They issued an "equal weight" rating and a $50.00 price objective on the stock.

Copart Company 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.