Copart, Inc. $CPRT Shares Bought by Legal & General Group Plc

Legal & General Group Plc lifted its position in Copart, Inc. (NASDAQ:CPRT) by 0.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,770,954 shares of the business services provider’s stock after acquiring an additional 21,683 shares during the quarter. Legal & General Group Plc owned 0.60% of Copart worth $225,933,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CPRT. Cloud Capital Management LLC acquired a new position in shares of Copart in the 3rd quarter worth approximately $25,000. Lodestone Wealth Management LLC acquired a new position in Copart during the 4th quarter valued at approximately $25,000. LRI Investments LLC boosted its position in Copart by 125.2% during the 3rd quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 363 shares during the period. Cornerstone Planning Group LLC boosted its position in Copart by 54.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 256 shares during the period. Finally, Aventura Private Wealth LLC acquired a new position in Copart during the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Price Performance

Shares of Copart stock opened at $32.85 on Thursday. The business’s fifty day moving average price is $33.24 and its two-hundred day moving average price is $36.99. The company has a market capitalization of $31.64 billion, a P/E ratio of 20.40 and a beta of 1.02. Copart, Inc. has a 1-year low of $32.20 and a 1-year high of $53.09.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.19 billion. Copart had a return on equity of 16.63% and a net margin of 33.48%.The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 EPS. On average, research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Weiss Ratings lowered Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Barclays restated an “underweight” rating and set a $32.00 price objective (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. JPMorgan Chase & Co. reduced their price objective on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research report on Monday, February 23rd. Finally, Jefferies Financial Group set a $45.00 price objective on Copart in a research report on Friday, May 22nd. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $44.50.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of Copart stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the sale, the chief executive officer owned 79,532 shares of the company’s stock, valued at $2,638,871.76. The trade was a 24.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.60% of the stock is 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.