Marathon Trading Investment Management LLC Has $1.41 Million Position in Copart, Inc. $CPRT

Marathon Trading Investment Management LLC boosted its stake in Copart, Inc. (NASDAQ:CPRT) by 187.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,890 shares of the business services provider’s stock after purchasing an additional 23,390 shares during the quarter. Marathon Trading Investment Management LLC’s holdings in Copart were worth $1,405,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its position in Copart by 92.1% in the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock valued at $816,000 after buying an additional 6,817 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Copart by 365.8% in the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock valued at $63,000 after acquiring an additional 878 shares during the period. Jump Financial LLC bought a new stake in shares of Copart during the second quarter valued at approximately $2,677,000. Sei Investments Co. increased its holdings in shares of Copart by 110.0% during the second quarter. Sei Investments Co. now owns 900,330 shares of the business services provider’s stock valued at $44,179,000 after acquiring an additional 471,571 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its position in shares of Copart by 3.5% during the second quarter. Treasurer of the State of North Carolina now owns 413,083 shares of the business services provider’s stock worth $20,270,000 after purchasing an additional 13,860 shares during the period. 85.78% of the stock is owned by institutional investors.

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 26,213 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total transaction of $869,747.34. Following the transaction, the chief executive officer directly owned 79,532 shares of the company’s stock, valued at $2,638,871.76. This trade represents a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 9.60% of the stock is currently owned by corporate insiders.

Copart Price Performance

Shares of NASDAQ:CPRT opened at $30.75 on Monday. The business’s 50 day moving average is $32.85 and its 200 day moving average is $36.18. Copart, Inc. has a 12-month low of $29.97 and a 12-month high of $50.11. The stock has a market cap of $28.47 billion, a price-to-earnings ratio of 19.10 and a beta of 1.01.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.19 billion. Copart had a return on equity of 16.63% and a net margin of 33.48%.Copart’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.42 EPS. As a group, equities research analysts expect that Copart, Inc. will post 1.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CPRT has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their target price on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Weiss Ratings downgraded shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Jefferies Financial Group set a $45.00 price objective on shares of Copart in a research note on Friday, May 22nd. Barclays reiterated an “underweight” rating and set a $32.00 price objective (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Finally, 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. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $44.50.

Copart Company 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.