Copart, Inc. (NASDAQ:CPRT) Stake Reduced by Praesidium Investment Management Company LLC

Praesidium Investment Management Company LLC reduced its position in shares of Copart, Inc. (NASDAQ:CPRT) by 0.7% during the 1st quarter, HoldingsChannel reports. The firm owned 1,102,548 shares of the business services provider’s stock after selling 7,929 shares during the period. Copart comprises about 6.2% of Praesidium Investment Management Company LLC’s investment portfolio, making the stock its 7th largest holding. Praesidium Investment Management Company LLC’s holdings in Copart were worth $119,748,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Lombard Odier Asset Management USA Corp purchased a new position in Copart during the 1st quarter worth $523,000. Voloridge Investment Management LLC increased its holdings in Copart by 78.1% during the 1st quarter. Voloridge Investment Management LLC now owns 202,814 shares of the business services provider’s stock worth $22,028,000 after purchasing an additional 88,919 shares during the period. Point72 Asset Management L.P. boosted its position in Copart by 92.5% during the 1st quarter. Point72 Asset Management L.P. now owns 1,039,618 shares of the business services provider’s stock valued at $112,913,000 after acquiring an additional 499,621 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its position in Copart by 374.9% during the 1st quarter. D. E. Shaw & Co. Inc. now owns 54,385 shares of the business services provider’s stock valued at $5,907,000 after acquiring an additional 74,166 shares in the last quarter. Finally, Amundi Asset Management US Inc. boosted its position in Copart by 20.0% during the 1st quarter. Amundi Asset Management US Inc. now owns 2,180,814 shares of the business services provider’s stock valued at $236,860,000 after acquiring an additional 363,177 shares in the last quarter. Institutional investors own 79.76% of the company’s stock.

In other Copart news, CEO A Jayson Adair sold 300,000 shares of Copart stock in a transaction dated Tuesday, June 29th. The stock was sold at an average price of $133.18, for a total transaction of $39,954,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven D. Cohan sold 80,000 shares of Copart stock in a transaction dated Monday, July 12th. The stock was sold at an average price of $139.46, for a total value of $11,156,800.00. The disclosure for this sale can be found here. Insiders sold a total of 573,293 shares of company stock valued at $77,786,349 in the last three months. Insiders own 12.61% of the company’s stock.

Shares of Copart stock traded up $0.74 during trading on Thursday, reaching $145.14. The company’s stock had a trading volume of 15,501 shares, compared to its average volume of 909,122. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.54 and a current ratio of 3.63. The stock has a market capitalization of $34.34 billion, a P/E ratio of 41.25 and a beta of 1.03. Copart, Inc. has a 1-year low of $87.75 and a 1-year high of $144.51. The company has a 50-day moving average price of $130.43.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Tuesday, May 18th. The business services provider reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.29. The firm had revenue of $733.90 million during the quarter, compared to analysts’ expectations of $623.52 million. Copart had a return on equity of 28.29% and a net margin of 34.26%. The business’s quarterly revenue was up 33.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.58 EPS. As a group, equities analysts predict that Copart, Inc. will post 3.57 EPS for the current year.

Separately, Truist Securities increased their target price on Copart from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, May 21st. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Copart currently has a consensus rating of “Buy” and a consensus price target of $125.33.

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.

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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