Voleon Capital Management LP Has $2.92 Million Stock Holdings in Copart, Inc. $CPRT

Key Points

• Voleon Capital Management LP increased its stake in Copart, Inc. by 125.5%, acquiring an additional 28,737 shares, bringing its total holdings to 51,640 shares worth approximately $2.92 million.
• CEO Jeffrey Liaw sold 24,088 shares at an average price of $46.43, reducing their ownership by 43.31% to approximately 31,527 shares valued at $1.46 million.
• Several institutional investors have significantly increased their positions in Copart, with 85.78% of the stock now owned by institutional investors.

Voleon Capital Management LP grew its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 125.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,640 shares of the business services provider's stock after purchasing an additional 28,737 shares during the period. Voleon Capital Management LP's holdings in Copart were worth $2,922,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Copart in the 1st quarter valued at approximately $218,000. CTC Alternative Strategies Ltd. acquired a new stake in shares of Copart in the 1st quarter valued at approximately $606,000. Goldman Sachs Group Inc. boosted its stake in shares of Copart by 24.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,129,285 shares of the business services provider's stock valued at $233,676,000 after purchasing an additional 821,074 shares in the last quarter. Triavera Capital LLC boosted its stake in shares of Copart by 1.3% in the 1st quarter. Triavera Capital LLC now owns 155,272 shares of the business services provider's stock valued at $8,787,000 after purchasing an additional 1,993 shares in the last quarter. Finally, USS Investment Management Ltd boosted its position in Copart by 1.4% during the 1st quarter. USS Investment Management Ltd now owns 174,297 shares of the business services provider's stock worth $9,863,000 after buying an additional 2,444 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Price Performance

Shares of Copart stock traded down $0.50 during trading on Friday, reaching $48.40. 3,944,793 shares of the company traded hands, compared to its average volume of 6,601,746. Copart, Inc. has a 1-year low of $45.05 and a 1-year high of $64.38. The company has a 50 day moving average price of $47.39 and a 200-day moving average price of $52.50. The firm has a market capitalization of $46.80 billion, a PE ratio of 30.25 and a beta of 1.03.

Copart (NASDAQ:CPRT - Get Free Report) last released its earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.04. Copart had a net margin of 33.41% and a return on equity of 18.17%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the company earned $0.33 EPS. Copart's quarterly revenue was up 2.9% compared to the same quarter last year. Equities research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Activity

In related news, CEO Jeffrey Liaw sold 24,088 shares of the business's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the transaction, the chief executive officer owned 31,527 shares in the company, valued at $1,463,798.61. The trade was a 43.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CPRT. Hsbc Global Res raised shares of Copart from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 4th. HSBC set a $62.00 target price on shares of Copart and gave the stock a "buy" rating in a report on Thursday, September 4th. Stephens reduced their target price on shares of Copart from $50.00 to $46.00 and set an "equal weight" rating on the stock in a report on Friday, September 5th. JPMorgan Chase & Co. dropped their price target on shares of Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Finally, Robert W. Baird dropped their price target on shares of Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Copart presently has a consensus rating of "Moderate Buy" and an average target price of $54.50.

About Copart

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.