107,577 Shares of Copart, Inc. $CPRT Bought by First Nebraska Trust Co

First Nebraska Trust Co bought a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 107,577 shares of the business services provider’s stock, valued at approximately $2,933,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Copart in the second quarter valued at approximately $1,908,980,000. Bank of New York Mellon Corp purchased a new stake in shares of Copart during the 2nd quarter worth approximately $488,663,000. Deutsche Bank AG purchased a new stake in shares of Copart during the 2nd quarter worth approximately $436,413,000. Bank of America Corp DE lifted its position in shares of Copart by 28.7% during the 1st quarter. Bank of America Corp DE now owns 9,706,517 shares of the business services provider’s stock worth $322,256,000 after buying an additional 2,165,708 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Copart by 97.9% in the 2nd quarter. Van ECK Associates Corp now owns 9,059,273 shares of the business services provider’s stock valued at $255,381,000 after buying an additional 4,482,226 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Stock Down 2.7%

CPRT opened at $31.06 on Wednesday. The firm has a market cap of $28.77 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 1.56 and a beta of 1.01. Copart, Inc. has a 52 week low of $25.72 and a 52 week high of $43.38. The business’s 50 day moving average is $29.48 and its two-hundred day moving average is $32.35.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, September 10th. The business services provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.03). The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. Copart had a net margin of 31.81% and a return on equity of 15.93%. Copart’s revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 earnings per share. Equities analysts expect that Copart, Inc. will post 1.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. HSBC downgraded shares of Copart from a “buy” rating to a “hold” rating and dropped their target price for the company from $46.00 to $36.00 in a research report on Wednesday, September 16th. Barclays set a $25.00 price target on shares of Copart and gave the stock an “underweight” rating in a research note on Wednesday, August 26th. Robert W. Baird reduced their price target on shares of Copart from $42.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, September 11th. JPMorgan Chase & Co. upgraded shares of Copart from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $32.00 to $40.00 in a research note on Thursday, September 3rd. Finally, BNP Paribas Exane reaffirmed an “outperform” rating and set a $43.00 price objective (up from $40.00) on shares of Copart in a report on Monday, September 28th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.90.

Insider Activity at Copart

In related news, Director Diane Morefield sold 20,000 shares of the company’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $27.66, for a total value of $553,200.00. Following the completion of the sale, the director owned 50,000 shares in the company, valued at $1,383,000. This represents a 28.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.30% of the stock is owned by insiders.

Copart Company Profile

Copart, Inc is a provider of online vehicle auction and remarketing services. The company operates a digital marketplace that connects vehicle sellers with a broad network of buyers, including licensed dismantlers, rebuilders, used-car dealers, exporters and individual consumers.

Copart primarily sells vehicles that have been damaged, declared total losses by insurers, repossessed, donated or otherwise designated for resale. Its services also include vehicle storage, transportation, towing coordination, title processing, inspection and auction support.