Goldman Sachs Group Inc. grew its position in shares of Copart, Inc. (NASDAQ:CPRT) by 131.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,457,803 shares of the business services provider’s stock after acquiring an additional 828,967 shares during the quarter. Goldman Sachs Group Inc. owned about 0.63% of Copart worth $46,344,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in CPRT. Vanguard Group Inc. increased its stake in Copart by 103.5% in the second quarter. Vanguard Group Inc. now owns 16,180,796 shares of the business services provider’s stock worth $514,387,000 after purchasing an additional 8,230,677 shares during the period. BlackRock Inc. increased its stake in Copart by 103.6% in the second quarter. BlackRock Inc. now owns 16,093,508 shares of the business services provider’s stock worth $511,611,000 after purchasing an additional 8,189,852 shares during the period. William Blair Investment Management LLC increased its stake in Copart by 91.4% in the second quarter. William Blair Investment Management LLC now owns 10,526,463 shares of the business services provider’s stock worth $334,636,000 after purchasing an additional 5,025,918 shares during the period. Lazard Asset Management LLC grew its position in shares of Copart by 30.6% during the 2nd quarter. Lazard Asset Management LLC now owns 8,842,644 shares of the business services provider’s stock worth $281,107,000 after buying an additional 2,070,426 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Copart by 106.5% during the 2nd quarter. Principal Financial Group Inc. now owns 7,417,734 shares of the business services provider’s stock worth $235,810,000 after buying an additional 3,826,242 shares in the last quarter. Institutional investors own 79.57% of the company’s stock.
In other Copart news, President Vincent W. Mitz sold 200,000 shares of the company’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $34.32, for a total transaction of $6,864,000.00. Following the completion of the sale, the president now directly owns 47,660 shares in the company, valued at $1,635,691.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James E. Meeks sold 160,000 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $34.33, for a total transaction of $5,492,800.00. Following the sale, the director now owns 3,500 shares of the company’s stock, valued at $120,155. The disclosure for this sale can be found here. Corporate insiders own 17.00% of the company’s stock.
A number of equities research analysts recently weighed in on CPRT shares. Zacks Investment Research downgraded Copart from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. CJS Securities restated an “outperform” rating and issued a $42.00 price objective on shares of Copart in a research note on Thursday, October 5th. Robert W. Baird raised their price objective on Copart from $33.00 to $37.00 and gave the stock an “outperform” rating in a research note on Thursday, September 21st. Finally, Jefferies Group LLC restated a “hold” rating and issued a $33.00 price objective on shares of Copart in a research note on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $37.33.
Copart, Inc. (NASDAQ CPRT) traded up 0.289% during mid-day trading on Tuesday, hitting $36.375. The stock had a trading volume of 314,378 shares. The stock has a 50-day moving average price of $33.65 and a 200 day moving average price of $31.63. The firm has a market cap of $8.39 billion, a P/E ratio of 21.913 and a beta of 1.19. Copart, Inc. has a 12-month low of $25.37 and a 12-month high of $36.51.
Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Tuesday, September 19th. The business services provider reported $0.35 EPS for the quarter, beating the consensus estimate of $0.31 by $0.04. Copart had a net margin of 27.23% and a return on equity of 31.83%. The business had revenue of $378.60 million for the quarter, compared to analysts’ expectations of $355.42 million. During the same period in the previous year, the company posted $0.31 EPS. Copart’s revenue was up 13.8% on a year-over-year basis. Equities analysts anticipate that Copart, Inc. will post $1.43 EPS for the current fiscal year.
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Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.
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