2,501,307 Shares in Copart, Inc. $CPRT Bought by Flossbach Von Storch SE

Flossbach Von Storch SE bought a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,501,307 shares of the business services provider’s stock, valued at approximately $70,512,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Versant Capital Management Inc grew its holdings in shares of Copart by 110.9% during the second quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock worth $27,000 after purchasing an additional 498 shares in the last quarter. Cache Advisors LLC bought a new position in shares of Copart in the first quarter worth approximately $31,000. Reflection Asset Management purchased a new stake in Copart in the fourth quarter valued at approximately $34,000. Elevation Wealth Partners LLC lifted its position in Copart by 882.3% during the second quarter. Elevation Wealth Partners LLC now owns 1,218 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 1,094 shares during the last quarter. Finally, Triumph Capital Management lifted its position in Copart by 424.2% during the fourth quarter. Triumph Capital Management now owns 1,017 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 823 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Price Performance

Shares of Copart stock opened at $33.85 on Thursday. Copart, Inc. has a one year low of $26.81 and a one year high of $50.11. The business’s 50 day simple moving average is $29.37 and its two-hundred day simple moving average is $32.74. The stock has a market capitalization of $31.34 billion, a P/E ratio of 21.02 and a beta of 1.01.

Copart (NASDAQ:CPRT) last released its quarterly earnings data 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. Copart had a return on equity of 16.63% and a net margin of 33.48%.The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the firm posted $0.42 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. Sell-side analysts expect that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

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