Vinva Investment Management Ltd Purchases Shares of 41,625 Copart, Inc. $CPRT

Key Points

• Vinva Investment Management opened a new position in Copart, acquiring 41,625 shares in the third quarter worth approximately $1.86 million.
• Multiple large funds (Quantum, Natixis, Bowie, First Trust) significantly increased their stakes during the quarter, leaving institutional investors with 85.78% ownership of the company.
• Copart missed quarterly EPS and revenue estimates (EPS $0.36 vs $0.39 expected; revenue $1.12B vs $1.15B), and analysts are mixed—average rating "Hold" with an average target of $44.40 amid several recent target cuts.

Vinva Investment Management Ltd acquired a new position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 41,625 shares of the business services provider's stock, valued at approximately $1,856,000.

Several other large investors also recently made changes to their positions in the business. Quantum Capital Management LLC NJ boosted its position in Copart by 18.4% during the 3rd quarter. Quantum Capital Management LLC NJ now owns 1,626,405 shares of the business services provider's stock worth $73,139,000 after purchasing an additional 252,961 shares during the period. Natixis Advisors LLC increased its holdings in Copart by 51.0% in the 3rd quarter. Natixis Advisors LLC now owns 2,139,903 shares of the business services provider's stock valued at $96,231,000 after purchasing an additional 722,681 shares in the last quarter. Bowie Capital Management LLC raised its position in Copart by 39.3% in the third quarter. Bowie Capital Management LLC now owns 2,898,884 shares of the business services provider's stock valued at $130,363,000 after purchasing an additional 817,857 shares during the period. Ameriflex Group Inc. purchased a new position in Copart in the third quarter valued at about $76,000. Finally, First Trust Advisors LP lifted its stake in shares of Copart by 18.5% during the third quarter. First Trust Advisors LP now owns 7,796,203 shares of the business services provider's stock worth $350,595,000 after purchasing an additional 1,216,799 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. decreased their target price on Copart from $45.00 to $34.00 and set a "neutral" rating for the company in a research report on Monday, February 23rd. CJS Securities upgraded Copart to a "strong-buy" rating in a report on Thursday, December 11th. Zacks Research lowered Copart from a "hold" rating to a "strong sell" rating in a research report on Tuesday, February 24th. Robert W. Baird set a $48.00 price target on Copart and gave the stock an "outperform" rating in a report on Friday, February 20th. Finally, Barclays reaffirmed an "underweight" rating and issued a $32.00 price objective (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $44.40.

Copart Price Performance

NASDAQ:CPRT opened at $37.57 on Tuesday. The firm has a 50-day moving average of $39.03 and a two-hundred day moving average of $41.76. The stock has a market cap of $36.19 billion, a P/E ratio of 23.48 and a beta of 1.09. Copart, Inc. has a 1-year low of $33.81 and a 1-year high of $63.85.

Copart (NASDAQ:CPRT - Get Free Report) last announced its earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share (EPS) 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 business had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.15 billion. During the same period in the previous year, the firm posted $0.40 earnings per share. The firm's revenue was down 3.6% compared to the same quarter last year. As a group, equities analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of the firm's stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the completion of the sale, the chief executive officer owned 55,970 shares in the company, valued at $2,248,314.90. This trade represents a 30.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.60% of the stock is currently owned by company insiders.

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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