Copart, Inc. $CPRT Shares Acquired by Lincoln Capital LLC

by · The Cerbat Gem

Lincoln Capital LLC raised its stake in Copart, Inc. (NASDAQ:CPRT – Free Report) by 22.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 181,890 shares of the business services provider’s stock after purchasing an additional 32,903 shares during the quarter. Copart accounts for about 1.0% of Lincoln Capital LLC’s portfolio, making the stock its 25th biggest position. Lincoln Capital LLC’s holdings in Copart were worth $5,395,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of CPRT. BlackRock Inc. bought a new position in shares of Copart during the second quarter valued at about $1,908,980,000. Bank of New York Mellon Corp purchased a new stake in Copart in the 2nd quarter valued at about $488,663,000. Deutsche Bank AG bought a new position in shares of Copart during the 2nd quarter worth approximately $436,413,000. Victory Capital Management Inc. boosted its stake in shares of Copart by 19.4% in the 4th quarter. Victory Capital Management Inc. now owns 8,536,117 shares of the business services provider’s stock worth $334,191,000 after buying an additional 1,386,409 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Copart by 28.7% in the first quarter. Bank of America Corp DE now owns 9,706,517 shares of the business services provider’s stock valued at $322,256,000 after acquiring an additional 2,165,708 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Stock Down 0.6%

NASDAQ:CPRT traded down $0.16 during midday trading on Friday, hitting $27.32. The stock had a trading volume of 7,281,999 shares, compared to its average volume of 10,203,497. The stock has a 50-day moving average of $30.36 and a 200 day moving average of $31.05. The company has a market capitalization of $25.31 billion, a price-to-earnings ratio of 17.63, a PEG ratio of 1.30 and a beta of 1.06. Copart, Inc. has a one year low of $26.39 and a one year high of $45.89.

Copart (NASDAQ:CPRT – Get Free Report) last posted its quarterly earnings results on Thursday, September 10th. The business services provider reported $0.35 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.03). Copart had a net margin of 31.81% and a return on equity of 15.93%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the firm posted $0.41 EPS. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Copart, Inc. will post 1.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CPRT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upgraded shares of Copart from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $32.00 to $40.00 in a report on Thursday, September 3rd. Freedom Broker cut their target price on shares of Copart from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Monday, September 14th. Barclays set a $25.00 price target on shares of Copart and gave the company an “underweight” rating in a research report on Wednesday, August 26th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Copart in a research note on Wednesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft set a $40.00 price objective on Copart in a research report on Thursday, September 3rd. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Copart currently has an average rating of “Moderate Buy” and a consensus target price of $37.80.

Get Our Latest Research Report on Copart

Insider Activity

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the completion of the sale, the chief executive officer directly owned 99,641 shares in the company, valued at approximately $3,038,054.09. The trade was a 21.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 9.60% of the stock is currently owned by insiders.

Copart Profile

(Free Report)

Copart, Inc is a global provider of online vehicle auction and remarketing services. The company primarily sells vehicles that have been damaged, totaled, recovered from theft, or otherwise deemed uneconomical to repair. Its customers include insurance companies, automobile dealers, dismantlers, rebuilders, exporters, rental and finance companies, and members of the general public.

Copart conducts auctions through its online VB3 platform, which connects buyers with vehicles listed at the company’s facilities.

Further Reading

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