Copart, Inc. $CPRT Shares Bought by Taikang Asset Management Hong Kong Co Ltd

Taikang Asset Management Hong Kong Co Ltd boosted its position in shares of Copart, Inc. (NASDAQ:CPRT) by 39.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,397 shares of the business services provider’s stock after buying an additional 22,667 shares during the period. Taikang Asset Management Hong Kong Co Ltd’s holdings in Copart were worth $3,945,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CPRT. Blueshift Asset Management LLC purchased a new stake in shares of Copart during the second quarter worth approximately $532,000. Arrowstreet Capital Limited Partnership purchased a new position in Copart in the 2nd quarter valued at $18,144,000. Quantbot Technologies LP acquired a new stake in Copart during the 2nd quarter worth $4,386,000. Claret Asset Management Corp grew its holdings in shares of Copart by 20.0% during the second quarter. Claret Asset Management Corp now owns 6,569 shares of the business services provider’s stock worth $322,000 after buying an additional 1,097 shares in the last quarter. Finally, Lido Advisors LLC grew its holdings in shares of Copart by 1.5% during the second quarter. Lido Advisors LLC now owns 23,250 shares of the business services provider’s stock worth $1,141,000 after buying an additional 337 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Transactions at Copart

In other news, Director Thomas N. Tryforos sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total value of $3,907,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey Liaw sold 24,283 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the completion of the transaction, the chief executive officer owned 31,332 shares in the company, valued at approximately $1,403,360.28. This represents a 43.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 353,123 shares of company stock valued at $15,873,689. Company insiders own 9.60% of the company’s stock.

Wall Street Analysts Forecast Growth

CPRT has been the topic of several research reports. Hsbc Global Res raised shares of Copart from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 4th. Robert W. Baird cut their price objective on shares of Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a report on Friday, November 21st. Weiss Ratings restated a “hold (c)” rating on shares of Copart in a report on Wednesday, October 8th. Barclays reaffirmed an “underweight” rating and issued a $33.00 price target (up previously from $32.00) on shares of Copart in a report on Friday, November 21st. Finally, Stephens reduced their price objective on Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $47.60.

Copart Stock Up 0.4%

CPRT stock opened at $39.15 on Tuesday. Copart, Inc. has a 52-week low of $38.61 and a 52-week high of $63.85. The stock has a market cap of $37.90 billion, a price-to-earnings ratio of 24.47 and a beta of 1.06. The business has a fifty day moving average of $42.87 and a two-hundred day moving average of $46.80.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, November 20th. The business services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.18 billion. Copart had a return on equity of 18.17% and a net margin of 33.41%.The company’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.37 EPS. As a group, sell-side analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

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.