Deutsche Bank AG Acquires New Shares in Copart, Inc. $CPRT

Deutsche Bank AG purchased a new stake in Copart, Inc. (NASDAQ:CPRT) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 15,481,141 shares of the business services provider’s stock, valued at approximately $436,413,000.

Other hedge funds have also recently made changes to their positions in the company. Reflection Asset Management acquired a new stake in shares of Copart in the fourth quarter valued at $34,000. Cache Advisors LLC purchased a new stake in shares of Copart during the 1st quarter worth $31,000. Versant Capital Management Inc lifted its stake in Copart by 110.9% during the second quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock worth $27,000 after purchasing an additional 498 shares during the last quarter. Triumph Capital Management boosted its stake in Copart by 424.2% in the fourth quarter. Triumph Capital Management now owns 1,017 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 823 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Copart by 365.8% in 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 period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling at Copart

In related news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total value of $845,945.05. Following the completion of the sale, the chief executive officer owned 99,641 shares in the company, valued at approximately $3,038,054.09. The trade was a 21.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.60% of the company’s stock.

Copart Stock Performance

CPRT stock opened at $31.70 on Tuesday. The firm has a market cap of $29.35 billion, a P/E ratio of 19.69 and a beta of 1.01. The stock has a 50-day simple moving average of $29.31 and a 200-day simple moving average of $32.85. Copart, Inc. has a 1 year low of $26.81 and a 1 year high of $50.11.

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

Analysts Set New Price Targets

Several brokerages recently weighed in on CPRT. Jefferies Financial Group set a $45.00 price target on Copart in a report on Friday, May 22nd. Barclays set a $26.00 price target on Copart and gave the company an “underweight” rating in a research report on Tuesday, July 21st. Weiss Ratings reissued a “sell (d+)” rating on shares of Copart in a research note on Wednesday, July 29th. Freedom Capital raised shares of Copart to a “strong-buy” rating in a research note on Friday, June 26th. Finally, Zacks Research lowered Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Three equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Copart currently has a consensus rating of “Hold” and a consensus target price of $43.50.

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.