Stonehage Fleming Financial Services Holdings Ltd Cuts Stock Position in Copart, Inc. $CPRT

Stonehage Fleming Financial Services Holdings Ltd decreased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 73.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 826,875 shares of the business services provider’s stock after selling 2,340,240 shares during the period. Copart comprises 1.0% of Stonehage Fleming Financial Services Holdings Ltd’s investment portfolio, making the stock its 17th biggest position. Stonehage Fleming Financial Services Holdings Ltd owned approximately 0.09% of Copart worth $32,372,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in Copart by 92.1% during the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock worth $816,000 after purchasing an additional 6,817 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of 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 purchasing an additional 878 shares during the period. Magnetar Financial LLC purchased a new position in shares of Copart in the second quarter valued at approximately $208,000. Global Retirement Partners LLC acquired a new position in shares of Copart in the second quarter valued at approximately $275,000. Finally, CreativeOne Wealth LLC grew its holdings in shares of Copart by 6.4% in the second quarter. CreativeOne Wealth LLC now owns 9,605 shares of the business services provider’s stock valued at $471,000 after purchasing an additional 576 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Jeffrey Liaw sold 25,137 shares of Copart stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the completion of the sale, the chief executive officer directly owned 55,970 shares of the company’s stock, valued at approximately $2,248,314.90. The trade was a 30.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 9.60% of the company’s stock.

Copart Stock Performance

CPRT stock opened at $33.03 on Friday. The company’s 50 day moving average price is $37.57 and its 200 day moving average price is $40.51. The firm has a market capitalization of $31.82 billion, a price-to-earnings ratio of 20.64 and a beta of 1.09. Copart, Inc. has a fifty-two week low of $32.20 and a fifty-two week high of $63.85.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). Copart had a return on equity of 16.68% and a net margin of 33.76%.The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the firm earned $0.40 EPS. The firm’s revenue was down 3.6% compared to the same quarter last year. Equities analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CPRT. Weiss Ratings reiterated a “hold (c-)” rating on shares of Copart in a report on Monday. CJS Securities upgraded shares of Copart to a “strong-buy” rating in a research note on Thursday, December 11th. Barclays reaffirmed an “underweight” rating and set a $32.00 price objective (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Zacks Research cut Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 24th. Finally, JPMorgan Chase & Co. decreased their target price on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a report on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.