XTX Topco Ltd Sells 26,461 Shares of Copart, Inc. (NASDAQ:CPRT)

Key Points

• XTX Topco Ltd has significantly decreased its stake in Copart, Inc. by 84.7%, leaving it with 4,798 shares valued at $272,000 after selling 26,461 shares in the first quarter.
• CEO Jeffrey Liaw sold 24,088 shares of Copart's stock for over $1.1 million, representing a 43.31% decrease in his ownership.
• Equities analysts have recently revised price targets for Copart, with JPMorgan and Robert W. Baird dropping their targets from $60 to $55 and $64 to $55, respectively.

XTX Topco Ltd lowered its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 84.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,798 shares of the business services provider's stock after selling 26,461 shares during the period. XTX Topco Ltd's holdings in Copart were worth $272,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CPRT. Principal Financial Group Inc. boosted its holdings in Copart by 3.3% in the 1st quarter. Principal Financial Group Inc. now owns 39,409,377 shares of the business services provider's stock worth $2,230,177,000 after buying an additional 1,249,687 shares during the period. Capital World Investors boosted its holdings in Copart by 0.8% in the 4th quarter. Capital World Investors now owns 21,353,932 shares of the business services provider's stock worth $1,225,502,000 after buying an additional 169,354 shares during the period. Northern Trust Corp boosted its holdings in Copart by 12.3% in the 4th quarter. Northern Trust Corp now owns 8,865,301 shares of the business services provider's stock worth $508,780,000 after buying an additional 971,940 shares during the period. Royal Bank of Canada boosted its holdings in Copart by 4.2% in the 4th quarter. Royal Bank of Canada now owns 6,151,038 shares of the business services provider's stock valued at $353,008,000 after purchasing an additional 246,569 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Copart by 0.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,952,853 shares of the business services provider's stock valued at $280,282,000 after purchasing an additional 30,424 shares during the period. Hedge funds and other institutional investors own 85.78% of the company's stock.

Copart Stock Up 0.5%

Shares of NASDAQ CPRT traded up $0.22 during mid-day trading on Friday, reaching $47.08. 4,688,357 shares of the company were exchanged, compared to its average volume of 5,882,411. Copart, Inc. has a 52 week low of $45.05 and a 52 week high of $64.38. The stock has a market capitalization of $45.52 billion, a PE ratio of 30.97 and a beta of 1.04. The company's 50 day moving average price is $47.55 and its 200 day moving average price is $53.88.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.42. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.23 billion. Copart had a net margin of 32.21% and a return on equity of 18.20%. The firm's revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 EPS. On average, sell-side analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

CPRT has been the subject of several analyst reports. JPMorgan Chase & Co. cut their price target on shares of Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Robert W. Baird cut their price target on shares of Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a report on Thursday, July 17th. Finally, Stephens initiated coverage on shares of Copart in a report on Tuesday, July 8th. They issued an "equal weight" rating and a $50.00 price target for the company.

Insiders Place Their Bets

In other Copart 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 value of $1,118,405.84. Following the completion of the sale, the chief executive officer directly owned 31,527 shares of the company's stock, valued at $1,463,798.61. The trade was a 43.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 9.68% of the stock is owned by corporate insiders.

Copart Company Profile

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.