Truist Financial Corp Has $7.78 Million Stock Holdings in Copart, Inc. $CPRT

Key Points

• Truist Financial Corp cut its Copart stake by 46.5% in the fourth quarter, selling 172,851 shares and leaving it with 198,764 shares worth about $7.78 million.
• Institutional ownership remains high, with hedge funds and other large investors holding 85.78% of Copart’s shares. Some firms increased positions sharply, including Sei Investments Co., while others trimmed holdings.
• Analyst sentiment is mixed to cautious: Copart has an average “Hold” rating and a consensus price target of $44.40, while recent reports included both upgrades and downgrades. The stock was trading around $33.94, near its 52-week low of $32.20.

Truist Financial Corp lessened its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 46.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 198,764 shares of the business services provider's stock after selling 172,851 shares during the quarter. Truist Financial Corp's holdings in Copart were worth $7,782,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CPRT. Brighton Jones LLC increased its stake in Copart by 92.1% in the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider's stock valued at $816,000 after buying an additional 6,817 shares during the period. Geneos Wealth Management Inc. increased its stake in Copart by 365.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider's stock valued at $63,000 after buying an additional 878 shares during the period. Jump Financial LLC acquired a new position in Copart in the 2nd quarter valued at approximately $2,677,000. Sei Investments Co. increased its stake in Copart by 110.0% in the 2nd quarter. Sei Investments Co. now owns 900,330 shares of the business services provider's stock valued at $44,179,000 after buying an additional 471,571 shares during the period. Finally, Treasurer of the State of North Carolina increased its stake in Copart by 3.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 413,083 shares of the business services provider's stock valued at $20,270,000 after buying an additional 13,860 shares during the period. Institutional investors and hedge funds own 85.78% of the company's stock.

Analyst Upgrades and Downgrades

CPRT has been the topic of several research reports. Robert W. Baird set a $48.00 price objective on shares of Copart and gave the company an "outperform" rating in a research note on Friday, February 20th. Zacks Research upgraded shares of Copart from a "strong sell" rating to a "hold" rating in a research note on Monday, April 27th. JPMorgan Chase & Co. dropped their price target on shares of Copart from $45.00 to $34.00 and set a "neutral" rating on the stock in a research note on Monday, February 23rd. Weiss Ratings lowered shares of Copart from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, May 1st. Finally, Barclays restated an "underweight" rating and set a $32.00 price target (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $44.40.

Copart Trading Up 0.2%

NASDAQ CPRT opened at $33.94 on Friday. The company has a fifty day simple moving average of $34.17 and a 200 day simple moving average of $38.00. The company has a market cap of $32.69 billion, a P/E ratio of 21.21 and a beta of 1.02. Copart, Inc. has a 1 year low of $32.20 and a 1 year high of $63.85.

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

Insider Activity

In related news, CEO Jeffrey Liaw sold 26,213 shares of the company'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 completion of the sale, the chief executive officer directly owned 79,532 shares of the company's stock, valued at approximately $2,638,871.76. This represents a 24.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 9.60% of the company's stock.

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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