UBS Group AG Lowers Holdings in Copart, Inc. $CPRT

Key Points

• UBS Group AG cut its Copart stake by 15.4% in Q4, selling 824,732 shares and retaining 4,517,937 shares (about 0.47% of the company) valued at roughly $176.9 million.
• Copart missed Q4 estimates, reporting $0.36 EPS vs. $0.39 expected and $1.12B revenue vs. $1.15B, while the stock trades around $33 (12‑month range $32.20–$63.85); analysts have mixed views but the consensus is a "Moderate Buy" with an average target of $44.40.
• CEO Jeffrey Liaw sold 26,213 shares at an average $33.18 on April 15, cutting his holding by 24.79% to 79,532 shares; insiders own 9.6% of the stock and institutions hold 85.78%.

UBS Group AG decreased its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 15.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,517,937 shares of the business services provider's stock after selling 824,732 shares during the quarter. UBS Group AG owned 0.47% of Copart worth $176,877,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CPRT. Zacks Research raised shares of Copart from a "strong sell" rating to a "hold" rating in a report on Monday. Robert W. Baird set a $48.00 target price on shares of Copart and gave the company an "outperform" rating in a report on Friday, February 20th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Copart in a report on Monday, March 23rd. JPMorgan Chase & Co. reduced their target price on shares of Copart from $45.00 to $34.00 and set a "neutral" rating on the stock in a report on Monday, February 23rd. Finally, Barclays reissued an "underweight" rating and set a $32.00 price objective (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Two equities 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 issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $44.40.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer owned 79,532 shares of the company's stock, valued at approximately $2,638,871.76. This trade represents a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.60% of the company's stock.

Copart Trading Down 0.0%

CPRT stock opened at $33.33 on Thursday. Copart, Inc. has a twelve month low of $32.20 and a twelve month high of $63.85. The company's 50 day moving average is $34.40 and its two-hundred day moving average is $38.35. The stock has a market cap of $32.11 billion, a P/E ratio of 20.83 and a beta of 1.14.

Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly earnings data 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 return on equity of 16.68% and a net margin of 33.76%.The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the business posted $0.40 EPS. The firm's revenue for the quarter was down 3.6% compared to the same quarter last year. On average, equities research analysts predict that Copart, Inc. will post 1.58 earnings per share for the current year.

Copart Company 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.

Want to see what other hedge funds are holding CPRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Copart, Inc. (NASDAQ:CPRT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.