Copart, Inc. $CPRT Shares Bought by Tobam

Tobam boosted its position in shares of Copart, Inc. (NASDAQ:CPRT) by 1,556.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,192 shares of the business services provider’s stock after buying an additional 20,852 shares during the period. Tobam’s holdings in Copart were worth $869,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CPRT. State Street Corp boosted its stake in shares of Copart by 1.3% in the fourth quarter. State Street Corp now owns 37,555,437 shares of the business services provider’s stock worth $1,470,295,000 after acquiring an additional 492,506 shares during the last quarter. Capital World Investors lifted its holdings in Copart by 25.1% in the 4th quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock valued at $1,085,588,000 after purchasing an additional 5,555,101 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Copart by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 23,255,161 shares of the business services provider’s stock valued at $906,836,000 after purchasing an additional 131,703 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Copart by 21.7% during the 4th quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock worth $860,618,000 after purchasing an additional 3,918,610 shares during the last quarter. Finally, Norges Bank acquired a new stake in Copart during the 4th quarter worth $569,569,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analyst Ratings Changes

CPRT has been the subject of a number of recent research reports. Jefferies Financial Group set a $45.00 target price on shares of Copart in a research report on Friday, May 22nd. Weiss Ratings cut Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Barclays reaffirmed an “underweight” rating and set a $32.00 price target (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Robert W. Baird set a $48.00 target price on shares of Copart and gave the stock an “outperform” rating in a research report on Friday, February 20th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Copart has an average rating of “Hold” and an average price target of $44.50.

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 26,213 shares of Copart stock in a transaction dated Wednesday, April 15th. The stock was 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 owned 79,532 shares in the company, valued at approximately $2,638,871.76. This trade represents a 24.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.60% of the stock is currently owned by insiders.

Copart Stock Performance

CPRT stock opened at $30.23 on Friday. Copart, Inc. has a 1 year low of $29.46 and a 1 year high of $50.11. The stock’s 50 day moving average price is $32.55 and its 200 day moving average price is $35.90. The firm has a market cap of $27.99 billion, a P/E ratio of 18.78 and a beta of 1.00.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.02. Copart had a return on equity of 16.63% and a net margin of 33.48%.The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the business posted $0.42 earnings per share. Copart’s revenue was up 2.1% compared to the same quarter last year. On average, research analysts predict that Copart, Inc. will post 1.58 earnings per share for the current year.

Copart 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.