Flossbach Von Storch SE Grows Holdings in Copart, Inc. $CPRT

Flossbach Von Storch SE boosted its position in shares of Copart, Inc. (NASDAQ:CPRT) by 89.2% during the third quarter, Holdings Channel.com reports. The fund owned 2,147,849 shares of the business services provider’s stock after acquiring an additional 1,012,727 shares during the quarter. Flossbach Von Storch SE’s holdings in Copart were worth $96,589,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Tripletail Wealth Management LLC purchased a new position in shares of Copart during the 3rd quarter valued at $27,000. Creekmur Asset Management LLC grew its holdings in Copart by 1,063.0% during the 2nd quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock valued at $31,000 after buying an additional 574 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in Copart during the second quarter valued at $31,000. Bank of Jackson Hole Trust grew its position in shares of Copart by 83.8% during the second quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 335 shares in the last quarter. Finally, GFG Capital LLC bought a new stake in shares of Copart in the second quarter worth about $37,000. 85.78% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Thomas N. Tryforos sold 100,000 shares of Copart stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total transaction of $3,907,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey Liaw sold 25,137 shares of the company’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the transaction, the chief executive officer owned 55,970 shares in the company, valued at $2,248,314.90. The trade was a 30.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 9.60% of the stock is currently owned by company insiders.

Copart Stock Performance

NASDAQ CPRT opened at $40.62 on Thursday. The business’s 50 day moving average price is $39.50 and its 200-day moving average price is $43.43. Copart, Inc. has a fifty-two week low of $37.41 and a fifty-two week high of $63.85. The company has a market cap of $39.32 billion, a P/E ratio of 24.77 and a beta of 1.10.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, November 20th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Copart had a return on equity of 17.78% and a net margin of 34.24%.The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the company earned $0.37 earnings per share. Copart’s revenue was up .7% on a year-over-year basis. As a group, equities analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CPRT. JPMorgan Chase & Co. dropped their price target on Copart from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday, November 24th. Barclays reaffirmed an “underweight” rating and set a $33.00 price objective (up from $32.00) on shares of Copart in a report on Friday, November 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Copart in a report on Wednesday, October 8th. Robert W. Baird reduced their price target on shares of Copart from $55.00 to $52.00 and set an “outperform” rating on the stock in a research report on Friday, November 21st. Finally, CJS Securities upgraded shares of Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Copart has an average rating of “Moderate Buy” and an average price target of $47.60.

Copart Company 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.