Assenagon Asset Management S.A. Sells 2,431,075 Shares of Copart, Inc. $CPRT

Assenagon Asset Management S.A. reduced its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 62.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,486,019 shares of the business services provider’s stock after selling 2,431,075 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Copart were worth $49,336,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lodestone Wealth Management LLC acquired a new stake in shares of Copart during the fourth quarter worth approximately $25,000. Cache Advisors LLC acquired a new stake in Copart during the 1st quarter valued at $31,000. Aventura Private Wealth LLC acquired a new stake in Copart during the 4th quarter valued at $33,000. Reflection Asset Management bought a new position in Copart in the 4th quarter valued at $34,000. Finally, Board of the Pension Protection Fund bought a new position in Copart in the 4th quarter valued at $35,000. 85.78% of the stock is owned by institutional investors.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total value 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. The trade was a 24.79% decrease in their ownership of the stock. 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 Price Performance

Copart stock opened at $30.05 on Friday. The firm has a market capitalization of $27.82 billion, a price-to-earnings ratio of 18.66 and a beta of 1.00. The company’s 50 day simple moving average is $32.30 and its 200 day simple moving average is $35.62. Copart, Inc. has a fifty-two week low of $29.41 and a fifty-two week high of $50.11.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. The firm 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 business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.42 earnings per share. As a group, analysts predict that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CPRT has been the topic of several research analyst reports. Weiss Ratings cut Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Jefferies Financial Group set a $45.00 price target on Copart in a report on Friday, May 22nd. Finally, Zacks Research raised shares of Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $44.50.

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.