Copart, Inc. $CPRT Shares Sold by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. decreased its holdings in Copart, Inc. (NASDAQ:CPRT) by 28.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 38,552 shares of the business services provider’s stock after selling 15,235 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Copart were worth $1,734,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CPRT. HB Wealth Management LLC grew its stake in Copart by 3.8% in the 3rd quarter. HB Wealth Management LLC now owns 87,407 shares of the business services provider’s stock valued at $3,931,000 after acquiring an additional 3,183 shares during the period. Harfst & Associates Inc. grew its position in shares of Copart by 1.6% in the third quarter. Harfst & Associates Inc. now owns 33,262 shares of the business services provider’s stock valued at $1,496,000 after purchasing an additional 532 shares during the period. CX Institutional increased its stake in shares of Copart by 3.5% during the third quarter. CX Institutional now owns 11,783 shares of the business services provider’s stock worth $530,000 after purchasing an additional 399 shares in the last quarter. SkyOak Wealth LLC acquired a new position in shares of Copart during the 3rd quarter worth about $271,000. Finally, E Fund Management Hong Kong Co. Ltd. lifted its stake in Copart by 173.4% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 864 shares of the business services provider’s stock valued at $39,000 after buying an additional 548 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on CPRT. Barclays reissued an “underweight” rating and set a $33.00 target price (up previously from $32.00) on shares of Copart in a report on Friday, November 21st. JPMorgan Chase & Co. reduced their target price on shares of Copart from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Monday, November 24th. Robert W. Baird dropped their price objective on shares of Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, November 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Copart in a report on Wednesday, October 8th. Finally, CJS Securities upgraded Copart to a “strong-buy” rating in a report on Thursday, December 11th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $47.60.

Copart Price Performance

NASDAQ:CPRT opened at $38.19 on Thursday. The company’s 50-day moving average is $39.81 and its two-hundred day moving average is $44.25. Copart, Inc. has a 1-year low of $37.41 and a 1-year high of $63.85. The firm has a market capitalization of $36.97 billion, a price-to-earnings ratio of 23.29 and a beta of 1.10.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, November 20th. The business services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. Copart had a net margin of 34.24% and a return on equity of 17.78%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the company earned $0.37 EPS. The business’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, equities analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 24,283 shares of the stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the completion of the transaction, the chief executive officer owned 31,332 shares of the company’s stock, valued at $1,403,360.28. This trade represents a 43.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Thomas N. Tryforos sold 100,000 shares of Copart stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total transaction of $3,907,000.00. The disclosure for this sale is available in the SEC filing. 9.60% of the stock is owned by insiders.

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.