Natixis Advisors LLC Increases Holdings in Copart, Inc. $CPRT

Natixis Advisors LLC boosted its position in Copart, Inc. (NASDAQ:CPRT) by 51.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,139,903 shares of the business services provider’s stock after buying an additional 722,681 shares during the period. Natixis Advisors LLC owned approximately 0.22% of Copart worth $96,231,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of CPRT. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Copart by 13.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 371,603 shares of the business services provider’s stock valued at $16,711,000 after purchasing an additional 45,346 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of Copart by 89.0% during the 2nd quarter. California Public Employees Retirement System now owns 2,548,275 shares of the business services provider’s stock valued at $125,044,000 after buying an additional 1,200,035 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Copart by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 40,175,058 shares of the business services provider’s stock valued at $1,806,674,000 after buying an additional 1,236,101 shares during the period. Yacktman Asset Management LP acquired a new position in shares of Copart in the 3rd quarter valued at about $3,382,000. Finally, Comgest Global Investors S.A.S. boosted its stake in shares of Copart by 7.2% in the third quarter. Comgest Global Investors S.A.S. now owns 3,181,919 shares of the business services provider’s stock worth $143,091,000 after buying an additional 212,520 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Price Performance

Shares of Copart stock opened at $37.72 on Monday. The stock’s 50 day simple moving average is $39.07 and its 200-day simple moving average is $41.83. The stock has a market cap of $36.34 billion, a P/E ratio of 23.58 and a beta of 1.09. Copart, Inc. has a 1-year low of $33.81 and a 1-year high of $63.85.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, February 19th. The business services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.03). Copart had a net margin of 33.76% and a return on equity of 16.68%. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the business posted $0.40 EPS. Copart’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, research analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Barclays reaffirmed an “underweight” rating and set a $32.00 target price (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Robert W. Baird set a $48.00 price target on Copart and gave the company an “outperform” rating in a report on Friday, February 20th. Zacks Research lowered Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 24th. CJS Securities raised shares of Copart to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, JPMorgan Chase & Co. cut their target price on shares of Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a report on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Copart has a consensus rating of “Hold” and a consensus price target of $44.40.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of the company’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total value of $1,009,753.29. Following the completion of the sale, the chief executive officer directly owned 55,970 shares in the company, valued at $2,248,314.90. This represents a 30.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 9.60% of the stock is currently owned by insiders.

Copart Company Profile

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.