Vontobel Asset Management Inc. lowered its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 21.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 469,048 shares of the business services provider’s stock after selling 130,493 shares during the quarter. Vontobel Asset Management Inc. owned approximately 0.20% of Copart worth $35,055,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in CPRT. Capital Investment Advisory Services LLC bought a new position in Copart during the second quarter valued at approximately $29,000. Icon Wealth Partners LLC bought a new position in Copart during the first quarter valued at approximately $34,000. Cordasco Financial Network boosted its stake in Copart by 170.7% during the second quarter. Cordasco Financial Network now owns 471 shares of the business services provider’s stock valued at $35,000 after buying an additional 297 shares during the last quarter. Redhawk Wealth Advisors Inc. bought a new position in Copart during the second quarter valued at approximately $37,000. Finally, Commonwealth Bank of Australia boosted its stake in Copart by 132.9% during the second quarter. Commonwealth Bank of Australia now owns 517 shares of the business services provider’s stock valued at $37,000 after buying an additional 295 shares during the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.
In related news, insider William E. Franklin sold 41,007 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $77.37, for a total transaction of $3,172,711.59. Following the completion of the sale, the insider now directly owns 58,974 shares of the company’s stock, valued at approximately $4,562,818.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO A Jayson Adair sold 179,461 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $74.54, for a total value of $13,377,022.94. The disclosure for this sale can be found here. 15.99% of the stock is owned by company insiders.
Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.04. The business had revenue of $542.60 million during the quarter, compared to analyst estimates of $517.84 million. Copart had a return on equity of 33.84% and a net margin of 28.98%. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same period last year, the company earned $0.42 EPS. On average, equities research analysts anticipate that Copart, Inc. will post 2.61 earnings per share for the current year.
A number of equities analysts recently commented on the company. BidaskClub lowered Copart from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research raised Copart from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Monday, May 27th. Barrington Research reissued a “hold” rating on shares of Copart in a research note on Wednesday, September 11th. JPMorgan Chase & Co. increased their price target on Copart from $62.00 to $71.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Finally, Robert W. Baird set a $85.00 price target on Copart and gave the company a “buy” rating in a research note on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. Copart presently has an average rating of “Hold” and an average price target of $75.21.
Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.
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