Raiffeisen Bank International AG Acquires 219,454 Shares of Copart, Inc. $CPRT

Raiffeisen Bank International AG lifted its position in Copart, Inc. (NASDAQ:CPRT) by 954.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 242,455 shares of the business services provider’s stock after acquiring an additional 219,454 shares during the quarter. Raiffeisen Bank International AG’s holdings in Copart were worth $9,500,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Lodestone Wealth Management LLC bought a new stake in shares of Copart in the 4th quarter worth about $25,000. Aventura Private Wealth LLC bought a new stake in shares of Copart in the 4th quarter worth about $33,000. Board of the Pension Protection Fund bought a new stake in shares of Copart in the 4th quarter worth about $35,000. FNY Investment Advisers LLC bought a new stake in shares of Copart in the 3rd quarter worth about $36,000. Finally, Larson Financial Group LLC lifted its holdings in shares of Copart by 36.7% in the 3rd quarter. Larson Financial Group LLC now owns 1,363 shares of the business services provider’s stock worth $61,000 after acquiring an additional 366 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CPRT. Robert W. Baird set a $48.00 target price on shares of Copart and gave the stock an “outperform” rating in a report 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. Jefferies Financial Group set a $45.00 target price on shares of Copart in a report on Friday, May 22nd. Zacks Research upgraded shares of Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Finally, JPMorgan Chase & Co. lowered 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 assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Copart presently has an average rating of “Hold” and a consensus target price of $44.50.

Insider Buying and Selling

In related 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 value of $869,747.34. Following the transaction, the chief executive officer owned 79,532 shares of the company’s stock, valued at $2,638,871.76. This trade represents a 24.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 9.60% of the stock is owned by corporate insiders.

Copart Price Performance

CPRT stock opened at $31.06 on Friday. The company has a market capitalization of $28.76 billion, a PE ratio of 19.29 and a beta of 1.00. Copart, Inc. has a 12 month low of $29.97 and a 12 month high of $50.72. The firm’s 50-day moving average is $32.90 and its 200 day moving average is $36.24.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.41 by $0.02. The company had revenue of $1.24 billion for 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 was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.42 EPS. Sell-side analysts forecast that Copart, Inc. will post 1.58 EPS for the current fiscal 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.