Copart, Inc. $CPRT Shares Acquired by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG lifted its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 121.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,628 shares of the business services provider’s stock after buying an additional 20,092 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Copart were worth $1,797,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new position in shares of Copart during the first quarter worth $267,723,000. Fiera Capital Corp grew its stake in shares of Copart by 195.6% during the first quarter. Fiera Capital Corp now owns 3,992,610 shares of the business services provider’s stock worth $225,942,000 after purchasing an additional 2,642,100 shares in the last quarter. PineStone Asset Management Inc. boosted its position in shares of Copart by 56.4% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,407,471 shares of the business services provider’s stock worth $314,415,000 after acquiring an additional 2,310,067 shares in the last quarter. Amundi boosted its position in shares of Copart by 32.5% during the 1st quarter. Amundi now owns 9,380,026 shares of the business services provider’s stock worth $531,256,000 after acquiring an additional 2,299,192 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Copart by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider’s stock worth $5,900,295,000 after acquiring an additional 2,134,890 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Transactions at Copart

In other Copart news, Director Thomas N. Tryforos sold 228,840 shares of Copart stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $47.54, for a total value of $10,879,053.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey Liaw sold 24,088 shares of Copart stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total value of $1,118,405.84. Following the completion of the transaction, the chief executive officer owned 31,527 shares in the company, valued at $1,463,798.61. This trade represents a 43.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.68% of the company’s stock.

Copart Trading Up 1.2%

Shares of CPRT opened at $45.11 on Friday. The firm has a market cap of $43.65 billion, a PE ratio of 28.19 and a beta of 1.03. The company’s 50 day simple moving average is $46.97 and its 200-day simple moving average is $51.64. Copart, Inc. has a 12-month low of $44.23 and a 12-month high of $64.38.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.04. Copart had a net margin of 33.41% and a return on equity of 18.17%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the firm posted $0.33 EPS. Copart’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, equities research analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on CPRT. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a research report on Saturday, September 27th. Hsbc Global Res raised Copart from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 4th. Stephens lowered their price target on Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a report on Friday, September 5th. Robert W. Baird cut their price target on shares of Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, July 17th. Finally, HSBC set a $62.00 price target on shares of Copart and gave the company a “buy” rating in a research report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $54.50.

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.