XTX Topco Ltd Decreases Position in Copart, Inc. (NASDAQ:CPRT)

XTX Topco Ltd cut its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 84.7% during the first quarter, HoldingsChannel reports. The firm owned 4,798 shares of the business services provider’s stock after selling 26,461 shares during the quarter. XTX Topco Ltd’s holdings in Copart were worth $272,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Harvest Fund Management Co. Ltd raised its holdings in shares of Copart by 7.6% in the first quarter. Harvest Fund Management Co. Ltd now owns 61,039 shares of the business services provider’s stock worth $3,453,000 after buying an additional 4,321 shares during the period. First Foundation Advisors boosted its position in shares of Copart by 8.0% in the 1st quarter. First Foundation Advisors now owns 71,525 shares of the business services provider’s stock worth $4,048,000 after purchasing an additional 5,306 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Copart in the 1st quarter worth $885,000. Meeder Asset Management Inc. boosted its position in shares of Copart by 4,252.4% in the 1st quarter. Meeder Asset Management Inc. now owns 21,327 shares of the business services provider’s stock worth $1,207,000 after purchasing an additional 20,837 shares in the last quarter. Finally, Meeder Advisory Services Inc. boosted its position in shares of Copart by 5.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 19,718 shares of the business services provider’s stock worth $1,116,000 after purchasing an additional 934 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Stock Performance

NASDAQ CPRT opened at $46.69 on Tuesday. The stock has a 50-day simple moving average of $47.80 and a two-hundred day simple moving average of $54.11. The firm has a market capitalization of $45.15 billion, a P/E ratio of 30.72 and a beta of 1.04. Copart, Inc. has a fifty-two week low of $45.05 and a fifty-two week high of $64.38.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.23 billion. Copart had a return on equity of 18.20% and a net margin of 32.21%. The company’s revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the business posted $0.39 EPS. As a group, analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Buying and Selling at Copart

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of Copart stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the completion of the transaction, the chief executive officer owned 31,527 shares in the company, valued at approximately $1,463,798.61. This trade represents a 43.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 9.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CPRT. JPMorgan Chase & Co. reduced their target price on Copart from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, May 23rd. Robert W. Baird reduced their target price on Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, July 17th. Finally, Stephens began coverage on Copart in a research note on Tuesday, July 8th. They issued an “equal weight” rating and a $50.00 target price for the company.

Copart Profile

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.