J. Safra Sarasin Holding AG Lowers Stock Position in Copart, Inc. $CPRT

by · The Markets Daily

J. Safra Sarasin Holding AG cut its position in shares of Copart, Inc. (NASDAQ:CPRT – Free Report) by 51.1% during the 3rd quarter, Holdings Channel reports. The firm owned 17,918 shares of the business services provider’s stock after selling 18,710 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Copart were worth $806,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CPRT. Vanguard Group Inc. grew its holdings in shares of Copart by 2.1% in the second quarter. Vanguard Group Inc. now owns 106,408,868 shares of the business services provider’s stock valued at $5,221,483,000 after acquiring an additional 2,144,946 shares in the last quarter. State Street Corp grew its stake in Copart by 3.3% in the 2nd quarter. State Street Corp now owns 36,406,503 shares of the business services provider’s stock valued at $1,786,467,000 after purchasing an additional 1,167,265 shares during the period. Geode Capital Management LLC increased its position in shares of Copart by 3.3% during the 2nd quarter. Geode Capital Management LLC now owns 20,462,076 shares of the business services provider’s stock valued at $999,305,000 after purchasing an additional 656,333 shares during the last quarter. Norges Bank bought a new stake in shares of Copart during the 2nd quarter worth $549,448,000. Finally, Invesco Ltd. boosted its holdings in shares of Copart by 7.1% in the 2nd quarter. Invesco Ltd. now owns 10,160,298 shares of the business services provider’s stock worth $498,566,000 after buying an additional 670,061 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

Shares of NASDAQ CPRT opened at $40.28 on Friday. Copart, Inc. has a fifty-two week low of $37.41 and a fifty-two week high of $63.85. The stock has a market cap of $38.99 billion, a PE ratio of 24.56 and a beta of 1.10. The stock has a fifty day moving average of $39.49 and a 200-day moving average of $43.40.

Copart (NASDAQ:CPRT – Get Free Report) last issued its earnings results on Thursday, November 20th. The business services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. Copart had a return on equity of 17.78% and a net margin of 34.24%.The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the company earned $0.37 EPS. The firm’s revenue was up .7% compared to the same quarter last year. On average, sell-side analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Analyst Ratings Changes

CPRT has been the topic of several research reports. Robert W. Baird lowered their price objective 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. Barclays restated an “underweight” rating and set a $33.00 price target (up previously from $32.00) on shares of Copart in a research note on Friday, November 21st. CJS Securities upgraded Copart to a “strong-buy” rating in a research note on Thursday, December 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Copart in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. dropped their price target on Copart from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Monday, November 24th. Two 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.60.

Check Out Our Latest Stock Analysis on CPRT

Insider Buying and Selling

In other Copart news, Director Thomas N. Tryforos sold 100,000 shares of the 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 legal filing with the SEC, which is available through this link. Also, CEO Jeffrey Liaw sold 25,137 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $2,248,314.90. This trade represents a 30.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 9.60% of the company’s stock.

Copart Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding CPRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Copart, Inc. (NASDAQ:CPRT – Free Report).