Pictet North America Advisors SA Acquires New Stake in Copart, Inc. $CPRT

Pictet North America Advisors SA bought a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 66,191 shares of the business services provider’s stock, valued at approximately $2,591,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Lodestone Wealth Management LLC acquired a new position in shares of Copart in the fourth quarter worth approximately $25,000. PineStone Asset Management Inc. increased its position in Copart by 10.3% during the 4th quarter. PineStone Asset Management Inc. now owns 8,517,154 shares of the business services provider’s stock valued at $333,447,000 after purchasing an additional 794,502 shares during the period. Nisa Investment Advisors LLC increased its position in Copart by 2.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 429,245 shares of the business services provider’s stock valued at $16,805,000 after purchasing an additional 10,149 shares during the period. Rockland Trust Co. raised its holdings in Copart by 10.4% during the 4th quarter. Rockland Trust Co. now owns 542,015 shares of the business services provider’s stock worth $21,220,000 after purchasing an additional 51,171 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Copart by 3.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 42,737 shares of the business services provider’s stock worth $1,614,000 after purchasing an additional 1,234 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

CPRT has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Copart in a research note on Monday, March 23rd. Robert W. Baird set a $48.00 target price on shares of Copart and gave the stock an “outperform” rating in a research note on Friday, February 20th. Barclays restated an “underweight” rating and issued a $32.00 target price (down from $33.00) on shares of Copart in a report on Monday, February 23rd. CJS Securities raised shares of Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Zacks Research downgraded Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 24th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $44.40.

Copart Stock Performance

Copart stock opened at $33.02 on Thursday. The stock has a market capitalization of $31.81 billion, a price-to-earnings ratio of 20.64 and a beta of 1.09. Copart, Inc. has a 52-week low of $32.20 and a 52-week high of $63.85. The stock’s 50 day moving average price is $36.92 and its two-hundred day moving average price is $40.01.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, February 19th. The business services provider reported $0.36 earnings per share 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 the consensus estimate of $1.15 billion. During the same quarter in the prior year, the firm earned $0.40 EPS. The business’s revenue was down 3.6% compared to the same quarter last year. On average, equities research analysts forecast that Copart, Inc. will post 1.57 EPS for the current year.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of Copart stock in a transaction on Thursday, January 15th. The shares were 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 of the company’s stock, valued at approximately $2,248,314.90. The trade was a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 9.60% of the company’s stock.

About Copart

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.