Swiss National Bank Cuts Stock Position in Copart, Inc. $CPRT

Swiss National Bank cut its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 4.7% in the third quarter, HoldingsChannel.com reports. The fund owned 2,648,000 shares of the business services provider’s stock after selling 130,200 shares during the period. Swiss National Bank’s holdings in Copart were worth $119,081,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC boosted its holdings in Copart by 92.1% in the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock worth $816,000 after buying an additional 6,817 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Copart by 365.8% during the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock valued at $63,000 after acquiring an additional 878 shares during the last quarter. Vestmark Advisory Solutions Inc. purchased a new position in shares of Copart in the second quarter valued at approximately $262,000. Fox Run Management L.L.C. acquired a new stake in shares of Copart in the second quarter worth approximately $656,000. Finally, AE Wealth Management LLC boosted its stake in shares of Copart by 157.8% in the second quarter. AE Wealth Management LLC now owns 60,490 shares of the business services provider’s stock worth $2,968,000 after acquiring an additional 37,027 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Activity

In other news, CEO Jeffrey Liaw sold 25,137 shares of Copart stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the sale, the chief executive officer 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 9.60% of the stock is owned by corporate insiders.

Copart Trading Down 3.4%

Shares of CPRT stock opened at $36.31 on Wednesday. Copart, Inc. has a twelve month low of $33.81 and a twelve month high of $63.85. The company’s 50-day moving average price is $38.96 and its 200-day moving average price is $41.67. The stock has a market cap of $34.98 billion, a price-to-earnings ratio of 22.69 and a beta of 1.09.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, February 19th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.03). The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.15 billion. Copart had a return on equity of 16.68% and a net margin of 33.76%.Copart’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.40 earnings per share. As a group, equities research analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. 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 note on Monday, February 23rd. CJS Securities raised shares of Copart to a “strong-buy” rating in a report on Thursday, December 11th. Robert W. Baird set a $48.00 price target on shares of Copart and gave the stock an “outperform” rating in a research note on Friday, February 20th. Zacks Research cut shares of Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 24th. Finally, Barclays reissued an “underweight” rating and issued a $32.00 target price (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $44.40.

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.