Natixis Advisors LLC Reduces Stock Position in Copart, Inc. $CPRT

Natixis Advisors LLC lessened its position in shares of Copart, Inc. (NASDAQ:CPRT) by 25.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,586,737 shares of the business services provider’s stock after selling 553,166 shares during the quarter. Natixis Advisors LLC owned 0.16% of Copart worth $62,121,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CPRT. Brighton Jones LLC grew its stake in Copart by 92.1% during the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock valued at $816,000 after purchasing an additional 6,817 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in Copart by 365.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock valued at $63,000 after purchasing an additional 878 shares during the last quarter. Jump Financial LLC purchased a new stake in Copart during the 2nd quarter valued at about $2,677,000. Sei Investments Co. grew its stake in Copart by 110.0% during the 2nd quarter. Sei Investments Co. now owns 900,330 shares of the business services provider’s stock valued at $44,179,000 after purchasing an additional 471,571 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its stake in Copart by 3.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 413,083 shares of the business services provider’s stock valued at $20,270,000 after purchasing an additional 13,860 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analyst Ratings Changes

CPRT has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their price target on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. Weiss Ratings downgraded Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Zacks Research raised Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Robert W. Baird set a $48.00 price objective on Copart and gave the company an “outperform” rating in a report on Friday, February 20th. Finally, Jefferies Financial Group set a $45.00 price objective on Copart in a report on Friday, May 22nd. Two analysts have rated the stock with a Strong Buy rating, one has assigned 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 stock has a consensus rating of “Hold” and a consensus price target of $44.50.

Insiders Place Their Bets

In related news, CEO Jeffrey Liaw sold 26,213 shares of the company’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 owned 79,532 shares of the company’s stock, valued at approximately $2,638,871.76. This represents a 24.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 9.60% of the company’s stock.

Copart Stock Down 1.7%

Shares of CPRT stock opened at $30.35 on Thursday. The stock has a market cap of $28.10 billion, a PE ratio of 18.85 and a beta of 1.00. The business has a 50-day simple moving average of $33.12 and a 200-day simple moving average of $36.67. Copart, Inc. has a 52-week low of $29.97 and a 52-week high of $51.01.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.02. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Copart had a return on equity of 16.63% and a net margin of 33.48%.The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 EPS. Sell-side analysts anticipate that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

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.