Los Angeles Capital Management LLC Sells 54,658 Shares of Copart, Inc. $CPRT

Los Angeles Capital Management LLC trimmed its position in shares of Copart, Inc. (NASDAQ:CPRT) by 53.3% in the fourth quarter, Holdings Channel reports. The fund owned 47,968 shares of the business services provider’s stock after selling 54,658 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Copart were worth $2,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Nordea Investment Management AB boosted its holdings in Copart by 4.1% in the 4th quarter. Nordea Investment Management AB now owns 798,087 shares of the business services provider’s stock valued at $31,353,000 after purchasing an additional 31,658 shares during the period. Comgest Global Investors S.A.S. boosted its holdings in Copart by 7.2% in the 3rd quarter. Comgest Global Investors S.A.S. now owns 3,181,919 shares of the business services provider’s stock valued at $143,091,000 after purchasing an additional 212,520 shares during the period. Davidson Kahn Capital Management LLC boosted its holdings in Copart by 56.3% in the 4th quarter. Davidson Kahn Capital Management LLC now owns 100,151 shares of the business services provider’s stock valued at $3,921,000 after purchasing an additional 36,091 shares during the period. Integrated Wealth Concepts LLC boosted its holdings in Copart by 21.0% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 249,396 shares of the business services provider’s stock valued at $11,215,000 after purchasing an additional 43,292 shares during the period. Finally, Gotham Asset Management LLC boosted its holdings in Copart by 193.6% in the 3rd quarter. Gotham Asset Management LLC now owns 944,876 shares of the business services provider’s stock valued at $42,491,000 after purchasing an additional 623,012 shares during the period. 85.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Robert W. Baird set a $48.00 price target on shares of Copart and gave the company an “outperform” rating in a report on Friday, February 20th. Barclays reissued an “underweight” rating and issued a $32.00 price target (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Zacks Research raised shares of Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. JPMorgan Chase & Co. reduced their price target 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. Finally, Weiss Ratings downgraded shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Two 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 assigned a Sell rating to the stock. According to MarketBeat.com, Copart presently has a consensus rating of “Hold” and a consensus target price of $44.50.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 26,213 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total transaction of $869,747.34. Following the completion of the transaction, the chief executive officer directly owned 79,532 shares of the company’s stock, valued at approximately $2,638,871.76. This trade represents a 24.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.60% of the company’s stock.

Copart Stock Performance

NASDAQ:CPRT opened at $31.31 on Wednesday. The company has a 50-day moving average of $32.97 and a 200-day moving average of $36.38. The company has a market capitalization of $28.99 billion, a price-to-earnings ratio of 19.45 and a beta of 1.00. Copart, Inc. has a 52 week low of $29.97 and a 52 week high of $50.91.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.19 billion. Copart had a net margin of 33.48% and a return on equity of 16.63%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $0.42 EPS. Sell-side analysts forecast that Copart, Inc. will post 1.58 EPS for the current year.

Copart 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.