Sustainable Insight Capital Management LLC Sells 23,600 Shares of Copart, Inc. $CPRT

Sustainable Insight Capital Management LLC trimmed its stake in Copart, Inc. (NASDAQ:CPRT) by 18.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 106,737 shares of the business services provider’s stock after selling 23,600 shares during the period. Copart makes up about 1.4% of Sustainable Insight Capital Management LLC’s portfolio, making the stock its 20th biggest position. Sustainable Insight Capital Management LLC’s holdings in Copart were worth $4,179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Copart by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 108,990,652 shares of the business services provider’s stock valued at $4,901,310,000 after purchasing an additional 2,581,784 shares during the last quarter. State Street Corp lifted its stake in shares of Copart by 1.8% in the 3rd quarter. State Street Corp now owns 37,062,931 shares of the business services provider’s stock valued at $1,666,720,000 after purchasing an additional 656,428 shares during the last quarter. Capital World Investors lifted its stake in shares of 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 during the last quarter. Geode Capital Management LLC lifted its stake in shares of 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 during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Copart by 21.7% in the 4th quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock valued at $860,618,000 after purchasing an additional 3,918,610 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Copart Stock Performance

Shares of CPRT stock opened at $31.06 on Friday. Copart, Inc. has a 52-week low of $29.97 and a 52-week high of $50.72. The firm has a market capitalization of $28.76 billion, a P/E ratio of 19.29 and a beta of 1.00. The stock has a 50 day moving average price of $32.90 and a 200 day moving average price of $36.24.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. Copart had a return on equity of 16.63% and a net margin of 33.48%.The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the company earned $0.42 EPS. Copart’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Copart, Inc. will post 1.58 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of Copart stock in a transaction on 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 directly owned 79,532 shares of the company’s stock, valued at $2,638,871.76. The trade was a 24.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 9.60% of the company’s stock.

About Copart

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.