Vontobel Holding Ltd. lifted its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 62.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,976 shares of the business services provider’s stock after purchasing an additional 2,308 shares during the quarter. Vontobel Holding Ltd.’s holdings in Copart were worth $649,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. grew its position in Copart by 3.3% during the first quarter. BlackRock Inc. now owns 21,047,150 shares of the business services provider’s stock worth $2,285,932,000 after buying an additional 665,082 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Copart by 8.1% during the 1st quarter. Alliancebernstein L.P. now owns 5,914,389 shares of the business services provider’s stock worth $642,362,000 after purchasing an additional 443,023 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Copart by 450.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,072,735 shares of the business services provider’s stock worth $518,256,000 after purchasing an additional 3,332,772 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Copart by 4.9% in the fourth quarter. JPMorgan Chase & Co. now owns 2,999,938 shares of the business services provider’s stock worth $381,740,000 after purchasing an additional 139,906 shares during the period. Finally, Norges Bank acquired a new position in Copart in the fourth quarter valued at about $254,847,000. Institutional investors own 80.02% of the company’s stock.
CPRT has been the topic of several recent analyst reports. Barrington Research reissued a “hold” rating on shares of Copart in a report on Monday, February 22nd. Truist Securities lifted their price objective on shares of Copart from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, May 21st. Finally, Stephens upgraded Copart from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $122.00 to $140.00 in a research note on Friday, February 12th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Copart presently has an average rating of “Buy” and a consensus price target of $125.33.
Copart (NASDAQ:CPRT) last released its quarterly earnings data on Tuesday, May 18th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.29. Copart had a return on equity of 28.29% and a net margin of 34.26%. The company had revenue of $733.90 million during the quarter, compared to the consensus estimate of $623.52 million. During the same quarter in the prior year, the firm posted $0.58 earnings per share. The firm’s revenue was up 33.3% compared to the same quarter last year. Research analysts expect that Copart, Inc. will post 3.49 earnings per share for the current year.
In other news, Director James E. Meeks sold 77,861 shares of the business’s stock in a transaction that occurred on Monday, March 15th. The shares were sold at an average price of $110.55, for a total value of $8,607,533.55. Following the transaction, the director now owns 77,861 shares in the company, valued at approximately $8,607,533.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Willis J. Johnson sold 234,012 shares of the company’s stock in a transaction on Tuesday, March 23rd. The shares were sold at an average price of $108.10, for a total transaction of $25,296,697.20. Following the completion of the sale, the chairman now directly owns 1,261,288 shares in the company, valued at $136,345,232.80. The disclosure for this sale can be found here. Corporate insiders own 12.61% of the company’s stock.
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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