Deutsche Bank AG Acquires Shares of 15,481,141 Copart, Inc. $CPRT

Deutsche Bank AG bought a new stake in shares of Copart, Inc. (NASDAQ:CPRT) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 15,481,141 shares of the business services provider’s stock, valued at approximately $436,413,000. Deutsche Bank AG owned approximately 1.67% of Copart as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Copart by 1.3% in the 4th quarter. State Street Corp now owns 37,555,437 shares of the business services provider’s stock worth $1,470,295,000 after buying an additional 492,506 shares during the last quarter. Capital World Investors raised its holdings in shares of Copart by 25.1% in the fourth quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock worth $1,085,588,000 after buying an additional 5,555,101 shares during the period. Geode Capital Management LLC increased its stake in Copart by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 23,255,161 shares of the business services provider’s stock worth $906,836,000 after purchasing an additional 131,703 shares during the period. Bank of New York Mellon Corp increased its stake in Copart by 21.7% in the 4th quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock worth $860,618,000 after buying an additional 3,918,610 shares during the period. Finally, Norges Bank purchased a new position in shares of Copart during the fourth quarter worth approximately $569,569,000. Institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

Copart stock opened at $31.70 on Tuesday. The stock has a market capitalization of $29.35 billion, a P/E ratio of 19.69 and a beta of 1.01. The company’s fifty day moving average price is $29.31 and its 200 day moving average price is $32.85. Copart, Inc. has a 1 year low of $26.81 and a 1 year high of $50.11.

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

Analysts Set New Price Targets

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

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 27,745 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total value of $845,945.05. Following the transaction, the chief executive officer directly owned 99,641 shares of the company’s stock, valued at approximately $3,038,054.09. This trade represents a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 9.60% of the stock is owned by company 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.