First Nebraska Trust Co Acquires New Stake in Copart, Inc. $CPRT

First Nebraska Trust Co bought a new position in Copart, Inc. (NASDAQ:CPRT) in the second quarter, HoldingsChannel.com reports. The firm bought 104,531 shares of the business services provider’s stock, valued at approximately $2,947,000.

A number of other large investors have also recently added to or reduced their stakes in CPRT. BlackRock Inc. acquired a new stake in shares of Copart in the 2nd quarter valued at about $1,908,980,000. State Street Corp boosted its position in shares of Copart by 1.3% during the fourth quarter. State Street Corp now owns 37,555,437 shares of the business services provider’s stock worth $1,470,295,000 after buying an additional 492,506 shares during the period. Capital World Investors boosted its position in shares of Copart by 25.1% during the fourth quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock worth $1,085,588,000 after buying an additional 5,555,101 shares during the period. Geode Capital Management LLC grew its holdings in shares of Copart by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 23,255,161 shares of the business services provider’s stock worth $906,836,000 after buying an additional 131,703 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Copart by 21.7% during the fourth quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock worth $860,618,000 after buying an additional 3,918,610 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling at Copart

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total transaction of $845,945.05. Following the transaction, the chief executive officer owned 99,641 shares of the company’s stock, valued at $3,038,054.09. The trade was a 21.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 9.60% of the stock is owned by company insiders.

Copart Stock Performance

NASDAQ:CPRT opened at $33.80 on Friday. The stock’s 50-day simple moving average is $29.49 and its 200 day simple moving average is $32.71. The company has a market cap of $31.29 billion, a P/E ratio of 20.99 and a beta of 1.01. Copart, Inc. has a 52-week low of $26.81 and a 52-week high of $50.11.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Copart in a research report on Wednesday, July 29th. Stephens reaffirmed an “equal weight” rating and set a $35.00 price target on shares of Copart in a research report on Thursday. Zacks Research cut shares of Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Freedom Capital upgraded shares of Copart to a “strong-buy” rating in a report on Friday, June 26th. Finally, Jefferies Financial Group set a $45.00 price objective on shares of Copart in a research report on Friday, May 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $41.67.

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.