Generali Asset Management SPA SGR Increases Stock Position in Copart, Inc. $CPRT

Generali Asset Management SPA SGR raised its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 24.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 99,569 shares of the business services provider’s stock after buying an additional 19,636 shares during the quarter. Generali Asset Management SPA SGR’s holdings in Copart were worth $3,898,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Copart by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 108,990,652 shares of the business services provider’s stock worth $4,901,310,000 after purchasing an additional 2,581,784 shares during the period. Principal Financial Group Inc. grew its holdings in Copart by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 40,175,058 shares of the business services provider’s stock valued at $1,806,674,000 after buying an additional 1,236,101 shares during the period. State Street Corp grew its holdings in Copart by 1.8% in the 3rd quarter. State Street Corp now owns 37,062,931 shares of the business services provider’s stock valued at $1,666,720,000 after buying an additional 656,428 shares during the period. Invesco Ltd. increased its stake in shares of Copart by 7.6% during the 3rd quarter. Invesco Ltd. now owns 10,931,871 shares of the business services provider’s stock valued at $491,606,000 after acquiring an additional 771,573 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Copart by 1.1% during the 3rd quarter. Northern Trust Corp now owns 8,931,216 shares of the business services provider’s stock valued at $401,637,000 after acquiring an additional 97,411 shares during the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Price Performance

NASDAQ CPRT opened at $33.94 on Friday. Copart, Inc. has a 1-year low of $32.20 and a 1-year high of $63.85. The firm has a market capitalization of $32.69 billion, a P/E ratio of 21.21 and a beta of 1.02. The business’s 50-day simple moving average is $34.17 and its 200-day simple moving average is $38.00.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, February 19th. The business services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.03). The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Copart had a net margin of 33.76% and a return on equity of 16.68%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.40 EPS. On average, equities research analysts expect that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Insider Activity

In other news, CEO Jeffrey Liaw sold 26,213 shares of the firm’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total value of $869,747.34. Following the transaction, the chief executive officer owned 79,532 shares of the company’s stock, valued at approximately $2,638,871.76. This trade represents a 24.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 9.60% of the stock is owned by insiders.

Analyst Ratings Changes

CPRT has been the topic of several research analyst reports. Robert W. Baird set a $48.00 target price on shares of Copart and gave the stock an “outperform” rating in a research report on Friday, February 20th. Weiss Ratings lowered shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Barclays reiterated an “underweight” rating and issued a $32.00 price target (down from $33.00) on shares of Copart in a report on Monday, February 23rd. JPMorgan Chase & Co. lowered their price objective on shares of Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Finally, Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $44.40.

Copart Profile

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.