E Fund Management Co. Ltd. Buys Shares of 35,960 Copart, Inc. $CPRT

E Fund Management Co. Ltd. acquired a new stake in shares of Copart, Inc. (NASDAQ:CPRT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 35,960 shares of the business services provider’s stock, valued at approximately $1,014,000.

Other institutional investors also recently bought and sold shares of the company. Reflection Asset Management purchased a new position in shares of Copart in the 4th quarter worth approximately $34,000. Cache Advisors LLC purchased a new stake in Copart during the first quarter valued at approximately $31,000. Versant Capital Management Inc boosted its stake in Copart by 110.9% in the second quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 498 shares in the last quarter. Triumph Capital Management boosted its stake in Copart by 424.2% in the fourth quarter. Triumph Capital Management now owns 1,017 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 823 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings 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 worth $63,000 after purchasing an additional 878 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Stock Performance

CPRT stock opened at $33.85 on Thursday. The firm has a market cap of $31.34 billion, a PE ratio of 21.02 and a beta of 1.01. The firm’s fifty day moving average is $29.37 and its 200 day moving average is $32.74. Copart, Inc. has a one year low of $26.81 and a one year high of $50.11.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. Copart had a net margin of 33.48% and a return on equity of 16.63%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm posted $0.42 earnings per share. The company’s revenue was up 2.1% compared to the same quarter last year. Research analysts predict that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CPRT has been the topic of a number of recent analyst reports. Zacks Research downgraded Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Freedom Capital upgraded Copart to a “strong-buy” rating in a research note on Friday, June 26th. Barclays set a $26.00 target price on Copart and gave the company an “underweight” rating in a research report on Tuesday, July 21st. Weiss Ratings reiterated a “sell (d+)” rating on shares of Copart in a research note on Wednesday, July 29th. Finally, Jefferies Financial Group set a $45.00 price target on Copart in a report on Friday, May 22nd. Three analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $43.50.

Insider Buying and Selling at Copart

In related news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total value of $845,945.05. Following the completion of the transaction, the chief executive officer owned 99,641 shares in the company, valued at $3,038,054.09. The trade was a 21.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 9.60% of the stock is currently owned by corporate insiders.

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.