SG Americas Securities LLC cut its holdings in Copart, Inc. (NASDAQ:CPRT – Free Report) by 55.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,243 shares of the business services provider’s stock after selling 35,670 shares during the period. SG Americas Securities LLC’s holdings in Copart were worth $2,199,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the business. State of Michigan Retirement System grew its holdings in shares of Copart by 0.5% in the first quarter. State of Michigan Retirement System now owns 229,088 shares of the business services provider’s stock valued at $17,230,000 after acquiring an additional 1,200 shares in the last quarter. Handelsbanken Fonder AB grew its position in Copart by 7.5% during the first quarter. Handelsbanken Fonder AB now owns 198,512 shares of the business services provider’s stock valued at $14,930,000 after buying an additional 13,929 shares during the period. Schechter Investment Advisors LLC bought a new position in Copart during the first quarter valued at about $235,000. Bridges Investment Management Inc. bought a new position in Copart during the first quarter valued at about $9,560,000. Finally, AIA Group Ltd grew its position in Copart by 14.5% during the first quarter. AIA Group Ltd now owns 13,844 shares of the business services provider’s stock valued at $1,041,000 after buying an additional 1,750 shares during the period. 78.90% of the stock is owned by institutional investors.
Copart Trading Down 0.1 %
CPRT stock opened at $91.14 on Friday. The firm has a market capitalization of $43.51 billion, a P/E ratio of 38.13 and a beta of 1.21. Copart, Inc. has a 12 month low of $52.28 and a 12 month high of $94.77. The firm has a 50 day moving average of $88.34 and a 200-day moving average of $76.89.
Insider Buying and Selling at Copart
In other news, Director Thomas N. Tryforos sold 143,100 shares of the company’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $88.39, for a total value of $12,648,609.00. Following the completion of the sale, the director now owns 16,900 shares of the company’s stock, valued at approximately $1,493,791. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Thomas N. Tryforos sold 143,100 shares of Copart stock in a transaction on Friday, May 19th. The shares were sold at an average price of $88.39, for a total value of $12,648,609.00. Following the transaction, the director now owns 16,900 shares in the company, valued at approximately $1,493,791. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Willis J. Johnson sold 660,000 shares of Copart stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $89.07, for a total transaction of $58,786,200.00. Following the completion of the transaction, the chairman now owns 1,773,832 shares in the company, valued at approximately $157,995,216.24. The disclosure for this sale can be found here. Insiders have sold 1,233,100 shares of company stock worth $109,373,409 over the last ninety days. Insiders own 11.19% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the company. Robert W. Baird increased their price objective on Copart from $78.00 to $90.00 in a report on Thursday, May 18th. JPMorgan Chase & Co. increased their target price on shares of Copart from $70.00 to $79.00 in a research report on Thursday, July 6th. StockNews.com assumed coverage on shares of Copart in a research report on Thursday, May 18th. They set a “buy” rating for the company. Finally, Northcoast Research lowered Copart from a “buy” rating to a “neutral” rating in a report on Monday, May 1st. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $82.25.
About Copart
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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