Flossbach Von Storch SE Grows Stake in Copart, Inc. $CPRT

Flossbach Von Storch SE grew its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 89.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,147,849 shares of the business services provider’s stock after acquiring an additional 1,012,727 shares during the quarter. Flossbach Von Storch SE owned about 0.22% of Copart worth $96,589,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Copart by 2.1% in the second quarter. Vanguard Group Inc. now owns 106,408,868 shares of the business services provider’s stock worth $5,221,483,000 after buying an additional 2,144,946 shares during the last quarter. State Street Corp increased its position in shares of Copart by 3.3% during the second quarter. State Street Corp now owns 36,406,503 shares of the business services provider’s stock valued at $1,786,467,000 after acquiring an additional 1,167,265 shares in the last quarter. Geode Capital Management LLC raised its holdings in Copart by 3.3% in the 2nd quarter. Geode Capital Management LLC now owns 20,462,076 shares of the business services provider’s stock worth $999,305,000 after acquiring an additional 656,333 shares during the last quarter. Norges Bank bought a new position in Copart in the 2nd quarter valued at approximately $549,448,000. Finally, Invesco Ltd. boosted its stake in Copart by 7.1% during the 2nd quarter. Invesco Ltd. now owns 10,160,298 shares of the business services provider’s stock valued at $498,566,000 after purchasing an additional 670,061 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling at Copart

In other news, Director Thomas N. Tryforos sold 100,000 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total transaction of $3,907,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey Liaw sold 25,137 shares of the company’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total value of $1,009,753.29. Following the completion of the sale, the chief executive officer owned 55,970 shares of the company’s stock, valued at $2,248,314.90. This trade represents a 30.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 9.60% of the company’s stock.

Copart Stock Up 0.6%

Copart stock opened at $40.62 on Thursday. The business has a 50-day simple moving average of $39.50 and a two-hundred day simple moving average of $43.43. Copart, Inc. has a 52-week low of $37.41 and a 52-week high of $63.85. The company has a market cap of $39.32 billion, a P/E ratio of 24.77 and a beta of 1.10.

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

Wall Street Analyst Weigh In

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

Copart Company 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.