Natixis Advisors L.P. Acquires 8,680 Shares of Copart, Inc. (NASDAQ:CPRT)

Natixis Advisors L.P. raised its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 19.3% in the second quarter, Holdings Channel.com reports. The firm owned 53,579 shares of the business services provider’s stock after purchasing an additional 8,680 shares during the period. Natixis Advisors L.P.’s holdings in Copart were worth $4,004,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Investment Advisory Services LLC bought a new position in shares of Copart during the second quarter valued at approximately $29,000. Icon Wealth Partners LLC bought a new position in shares of Copart during the first quarter valued at approximately $34,000. Cordasco Financial Network increased its stake in shares of Copart by 170.7% during the second quarter. Cordasco Financial Network now owns 471 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 297 shares in the last quarter. Redhawk Wealth Advisors Inc. bought a new position in shares of Copart during the second quarter valued at approximately $37,000. Finally, Certified Advisory Corp bought a new position in shares of Copart during the second quarter valued at approximately $38,000. 82.22% of the stock is owned by institutional investors and hedge funds.

CPRT has been the subject of a number of analyst reports. Guggenheim downgraded shares of Copart from a “buy” rating to a “neutral” rating and set a $67.07 target price for the company. in a research note on Friday, May 17th. BidaskClub downgraded shares of Copart from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. raised their price target on shares of Copart from $62.00 to $71.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Barrington Research reissued a “hold” rating on shares of Copart in a research report on Wednesday. Finally, Zacks Investment Research raised shares of Copart from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Monday, May 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $75.21.

In other Copart news, insider William E. Franklin sold 41,007 shares of Copart stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $77.37, for a total value of $3,172,711.59. Following the completion of the sale, the insider now owns 58,974 shares of the company’s stock, valued at approximately $4,562,818.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO A Jayson Adair sold 179,461 shares of Copart stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $74.54, for a total transaction of $13,377,022.94. The disclosure for this sale can be found here. 15.99% of the stock is owned by company insiders.

Shares of CPRT traded up $0.78 on Friday, hitting $81.66. 26,732 shares of the stock traded hands, compared to its average volume of 1,321,135. The company has a market capitalization of $18.67 billion, a PE ratio of 36.22, a P/E/G ratio of 1.56 and a beta of 0.84. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.99 and a current ratio of 2.07. The business has a 50 day simple moving average of $76.70 and a 200 day simple moving average of $69.86. Copart, Inc. has a one year low of $44.61 and a one year high of $83.55.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.04. The company had revenue of $542.60 million during the quarter, compared to the consensus estimate of $517.84 million. Copart had a net margin of 28.98% and a return on equity of 33.84%. The firm’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.42 earnings per share. On average, equities analysts expect that Copart, Inc. will post 2.61 earnings per share for the current year.

About Copart

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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