US Bancorp DE Cuts Stake in Copart, Inc. $CPRT

Key Points

• US Bancorp DE reduced its Copart stake by 35.4% in Q4, selling 497,157 shares and leaving it with 909,115 shares worth about $35.6 million (≈0.09% of the company).
• CEO Jeffrey Liaw sold 26,213 shares on April 15 at an average $33.18, a 24.79% cut to his holdings; insiders now own about 9.60% of Copart.
• Copart missed Q4 estimates (EPS $0.36 vs. $0.39 expected) with revenue of $1.12 billion (-3.6% YoY); the stock trades around $33 and carries a consensus "Moderate Buy" rating with an average price target of $44.40 amid mixed analyst views.

US Bancorp DE reduced its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 35.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 909,115 shares of the business services provider's stock after selling 497,157 shares during the quarter. US Bancorp DE owned about 0.09% of Copart worth $35,592,000 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 purchased a new position in Copart in the third quarter worth $25,000. Lodestone Wealth Management LLC purchased a new position in Copart in the fourth quarter worth $25,000. LRI Investments LLC grew its holdings in Copart by 125.2% in the third quarter. LRI Investments LLC now owns 653 shares of the business services provider's stock worth $29,000 after purchasing an additional 363 shares during the last quarter. Cornerstone Planning Group LLC grew its holdings in Copart by 54.0% in the third quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider's stock worth $31,000 after purchasing an additional 256 shares during the last quarter. Finally, Aventura Private Wealth LLC purchased a new position in Copart in the fourth quarter worth $33,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 26,213 shares of Copart 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 in the company, valued at approximately $2,638,871.76. The trade was a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 9.60% of the company's stock.

Copart Trading Up 0.4%

NASDAQ:CPRT opened at $33.26 on Friday. Copart, Inc. has a 12 month low of $32.20 and a 12 month high of $63.85. The firm has a fifty day simple moving average of $34.31 and a 200-day simple moving average of $38.31. The company has a market capitalization of $32.03 billion, a P/E ratio of 20.78 and a beta of 1.02.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings data on Thursday, February 19th. The business services provider reported $0.36 EPS for the quarter, missing the consensus estimate 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 quarter in the previous year, the firm posted $0.40 earnings per share. The company's quarterly revenue was down 3.6% on a year-over-year basis. Equities analysts forecast that Copart, Inc. will post 1.58 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Zacks Research raised shares of Copart from a "strong sell" rating to a "hold" rating in a report on Monday, April 27th. JPMorgan Chase & Co. cut their price target 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. Robert W. Baird set a $48.00 price target on shares of Copart and gave the stock an "outperform" rating in a report on Friday, February 20th. Barclays reaffirmed an "underweight" rating and issued a $32.00 price target (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Copart in a research note on Monday, March 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Copart currently has an average rating of "Moderate Buy" and an average price target of $44.40.

About Copart

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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