Copart, Inc. $CPRT Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its stake in Copart, Inc. (NASDAQ:CPRT) by 5.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,130,853 shares of the business services provider’s stock after selling 113,303 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Copart were worth $70,744,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CPRT. State Street Corp lifted its holdings in shares of Copart by 1.3% during the fourth quarter. State Street Corp now owns 37,555,437 shares of the business services provider’s stock worth $1,470,295,000 after purchasing an additional 492,506 shares during the period. Capital World Investors increased its stake in Copart by 25.1% in the 4th quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock valued at $1,085,588,000 after buying an additional 5,555,101 shares during the period. Geode Capital Management LLC raised its position in Copart by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 23,255,161 shares of the business services provider’s stock worth $906,836,000 after buying an additional 131,703 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Copart by 21.7% in the 4th quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock worth $860,618,000 after acquiring an additional 3,918,610 shares during the period. Finally, Norges Bank acquired a new stake in shares of Copart in the 4th quarter worth $569,569,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CPRT. Weiss Ratings lowered shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Freedom Capital upgraded Copart to a “strong-buy” rating in a research report on Friday, June 26th. Jefferies Financial Group set a $45.00 target price on Copart in a research note on Friday, May 22nd. Finally, Zacks Research raised Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Three investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Copart presently has an average rating of “Moderate Buy” and an average target price of $44.50.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the business’s 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 directly owned 79,532 shares in the company, valued at approximately $2,638,871.76. The trade was a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.60% of the company’s stock.

Copart Price Performance

Shares of CPRT stock traded down $0.82 during midday trading on Friday, reaching $27.51. 9,140,964 shares of the company traded hands, compared to its average volume of 13,178,506. The firm’s 50 day simple moving average is $31.31 and its two-hundred day simple moving average is $34.88. Copart, Inc. has a 1-year low of $27.49 and a 1-year high of $50.11. The firm has a market cap of $25.47 billion, a PE ratio of 17.09 and a beta of 1.02.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. Copart had a return on equity of 16.63% and a net margin of 33.48%.The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the firm posted $0.42 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. As a group, research analysts anticipate that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

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.