Saturna Capital Corp Sells 18,750 Shares of Copart, Inc. $CPRT

Saturna Capital Corp cut its stake in Copart, Inc. (NASDAQ:CPRT) by 55.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,262 shares of the business services provider’s stock after selling 18,750 shares during the quarter. Saturna Capital Corp’s holdings in Copart were worth $598,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CPRT. Lodestone Wealth Management LLC acquired a new position in Copart during the fourth quarter valued at approximately $25,000. FNY Investment Advisers LLC acquired a new stake in Copart in the third quarter worth $36,000. Aventura Private Wealth LLC bought a new position in shares of Copart during the fourth quarter worth $33,000. Board of the Pension Protection Fund acquired a new position in shares of Copart in the 4th quarter valued at $35,000. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Copart by 365.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock valued at $63,000 after buying an additional 878 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Stock Performance

NASDAQ:CPRT opened at $31.36 on Thursday. The company has a market cap of $29.03 billion, a PE ratio of 19.48 and a beta of 1.00. Copart, Inc. has a 52-week low of $29.97 and a 52-week high of $50.91. The stock has a 50-day simple moving average of $32.94 and a 200 day simple moving average of $36.31.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the business posted $0.42 EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, research analysts predict that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 26,213 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total value of $869,747.34. Following the sale, the chief executive officer owned 79,532 shares of the company’s stock, valued at $2,638,871.76. The trade was a 24.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 9.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CPRT. Jefferies Financial Group set a $45.00 price objective on shares of Copart in a research report on Friday, May 22nd. Zacks Research raised Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. JPMorgan Chase & Co. lowered their price target on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a report on Monday, February 23rd. Robert W. Baird set a $48.00 price target on Copart and gave the stock an “outperform” rating in a research report on Friday, February 20th. Finally, Barclays reiterated an “underweight” rating and issued a $32.00 price objective (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Copart currently 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.