Truist Financial Corp Increases Stake in Copart, Inc. (NASDAQ:CPRT)

Truist Financial Corp lifted its stake in shares of Copart, Inc. (NASDAQ:CPRTFree Report) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 129,637 shares of the business services provider’s stock after acquiring an additional 2,960 shares during the period. Truist Financial Corp’s holdings in Copart were worth $6,352,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Copart by 100.6% during the 3rd quarter. Vanguard Group Inc. now owns 97,512,662 shares of the business services provider’s stock worth $4,201,821,000 after acquiring an additional 48,891,984 shares during the period. Principal Financial Group Inc. raised its holdings in Copart by 96.8% in the third quarter. Principal Financial Group Inc. now owns 39,803,057 shares of the business services provider’s stock valued at $1,715,114,000 after buying an additional 19,576,719 shares during the period. Wellington Management Group LLP raised its holdings in Copart by 84.4% in the third quarter. Wellington Management Group LLP now owns 17,929,180 shares of the business services provider’s stock valued at $772,568,000 after buying an additional 8,205,757 shares during the period. JPMorgan Chase & Co. raised its holdings in Copart by 79.1% in the third quarter. JPMorgan Chase & Co. now owns 17,359,152 shares of the business services provider’s stock valued at $748,006,000 after buying an additional 7,666,881 shares during the period. Finally, FMR LLC raised its holdings in Copart by 93.6% in the third quarter. FMR LLC now owns 14,733,860 shares of the business services provider’s stock valued at $634,882,000 after buying an additional 7,122,991 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. StockNews.com lowered shares of Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. JPMorgan Chase & Co. raised their price target on shares of Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Copart currently has a consensus rating of “Hold” and an average target price of $51.00.

Read Our Latest Analysis on Copart

Copart Stock Up 1.5 %

Shares of NASDAQ:CPRT opened at $55.20 on Friday. Copart, Inc. has a 52-week low of $39.06 and a 52-week high of $58.58. The company has a 50 day moving average of $55.40 and a two-hundred day moving average of $50.72. The company has a market capitalization of $53.07 billion, a price-to-earnings ratio of 39.71 and a beta of 1.22.

Copart (NASDAQ:CPRTGet Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.02). Copart had a net margin of 33.41% and a return on equity of 21.55%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the business earned $0.31 EPS. The firm’s revenue was up 6.6% compared to the same quarter last year. On average, equities analysts anticipate that Copart, Inc. will post 1.42 earnings per share for the current year.

Insider Transactions at Copart

In other news, Director Thomas N. Tryforos sold 285,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the completion of the sale, the director now owns 35,000 shares of the company’s stock, valued at $1,934,450. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Copart news, Director Thomas N. Tryforos sold 285,000 shares of Copart stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $55.27, for a total value of $15,751,950.00. Following the completion of the transaction, the director now owns 35,000 shares of the company’s stock, valued at $1,934,450. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman A Jayson Adair sold 600,000 shares of Copart stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the completion of the transaction, the chairman now directly owns 19,687,980 shares of the company’s stock, valued at approximately $1,137,374,604.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 985,000 shares of company stock valued at $55,519,950. 10.23% of the stock is currently owned by corporate insiders.

About Copart

(Free Report)

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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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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