Sustainable Insight Capital Management LLC Sells 23,600 Shares of Copart, Inc. $CPRT

Sustainable Insight Capital Management LLC cut its position in shares of Copart, Inc. (NASDAQ:CPRT) by 18.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 106,737 shares of the business services provider’s stock after selling 23,600 shares during the period. Copart comprises 1.4% of Sustainable Insight Capital Management LLC’s portfolio, making the stock its 20th biggest position. Sustainable Insight Capital Management LLC’s holdings in Copart were worth $4,179,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CPRT. Norges Bank bought a new stake in Copart during the 4th quarter valued at $569,569,000. Capital World Investors raised its position in Copart by 25.1% during the 4th quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock valued at $1,085,588,000 after purchasing an additional 5,555,101 shares in the last quarter. Capital International Investors bought a new stake in Copart during the 4th quarter valued at $195,637,000. Deutsche Bank AG raised its position in Copart by 94.0% during the 4th quarter. Deutsche Bank AG now owns 9,955,661 shares of the business services provider’s stock valued at $389,764,000 after purchasing an additional 4,823,111 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Copart by 21.7% during the 4th quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock valued at $860,618,000 after purchasing an additional 3,918,610 shares in the last quarter. 85.78% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of Copart stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the completion of the sale, the chief executive officer 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 9.60% of the company’s stock.

Copart Price Performance

Shares of CPRT stock opened at $31.06 on Friday. Copart, Inc. has a 1-year low of $29.97 and a 1-year high of $50.72. The stock’s fifty day moving average price is $32.90 and its 200 day moving average price is $36.24. The company has a market cap of $28.76 billion, a price-to-earnings ratio of 19.29 and a beta of 1.00.

Copart (NASDAQ:CPRT) last issued its quarterly 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. Copart had a return on equity of 16.63% and a net margin of 33.48%.The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the firm posted $0.42 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Copart, Inc. will post 1.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Barclays reiterated an “underweight” rating and issued a $32.00 price target (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Jefferies Financial Group set a $45.00 price target on Copart in a report on Friday, May 22nd. Weiss Ratings downgraded Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Finally, Robert W. Baird set a $48.00 price target on Copart and gave the company an “outperform” rating in a report on Friday, February 20th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $44.50.

About Copart

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.