Copart, Inc. $CPRT Shares Sold by Groesbeck Investment Management Corp NJ

Groesbeck Investment Management Corp NJ reduced its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 65.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,480 shares of the business services provider’s stock after selling 20,115 shares during the period. Groesbeck Investment Management Corp NJ’s holdings in Copart were worth $410,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Copart by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 108,990,652 shares of the business services provider’s stock worth $4,901,310,000 after purchasing an additional 2,581,784 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Copart by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 40,175,058 shares of the business services provider’s stock valued at $1,806,674,000 after buying an additional 1,236,101 shares during the period. State Street Corp raised its position in shares of Copart by 1.8% during the 3rd quarter. State Street Corp now owns 37,062,931 shares of the business services provider’s stock valued at $1,666,720,000 after buying an additional 656,428 shares during the period. Invesco Ltd. raised its position in shares of Copart by 7.6% during the 3rd quarter. Invesco Ltd. now owns 10,931,871 shares of the business services provider’s stock valued at $491,606,000 after buying an additional 771,573 shares during the period. Finally, Northern Trust Corp raised its position in shares of Copart by 1.1% during the 3rd quarter. Northern Trust Corp now owns 8,931,216 shares of the business services provider’s stock valued at $401,637,000 after buying an additional 97,411 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Copart

In other news, CEO Jeffrey Liaw sold 25,137 shares of the company’s stock in a transaction on Thursday, January 15th. The stock was 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. This represents a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.60% of the stock is currently owned by insiders.

Copart Stock Down 1.7%

Shares of NASDAQ CPRT opened at $32.84 on Tuesday. The firm has a market cap of $31.64 billion, a price-to-earnings ratio of 20.53 and a beta of 1.14. Copart, Inc. has a 52-week low of $32.20 and a 52-week high of $63.85. The business’s 50 day moving average is $36.43 and its two-hundred day moving average is $39.68.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Copart had a net margin of 33.76% and a return on equity of 16.68%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.40 EPS. Analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analyst Ratings Changes

CPRT has been the topic of several analyst reports. Robert W. Baird set a $48.00 price target on shares of Copart and gave the company an “outperform” rating in a research report on Friday, February 20th. CJS Securities raised shares of Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Copart in a research report on Monday, March 23rd. Barclays reaffirmed an “underweight” rating and set a $32.00 price target (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, February 23rd. Two research 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 issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $44.40.

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.