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CPRT Copart

Copart, Inc., founded in 1982, is a global leader in online vehicle auctions. Copart's innovative technology and online auction platform links sellers to more than 750,000 Members in over 170 countries. The company offers services to process and sell salvage and clean title vehicles to dealers, dismantlers, rebuilders, exporters and, in some cases, to end users. Copart sells vehicles on behalf of insurance companies, banks, finance companies, charities, fleet operators, dealers, and individual owners. With operations at over 200 locations in 11 countries, Copart has more than 170,000 vehicles available online every day. Copart currently operates in the United States (Copart.com), Canada (Copart.ca), the United Kingdom (Copart.co.uk), the Republic of Ireland (Copart.ie), Brazil (Copart.com.br), Germany (Copart.de), Finland (Copart.fi), the United Arab Emirates, Oman and Bahrain (Copartmea.com), and Spain (Copart.es).

Company profile

Ticker
CPRT
Exchange
Website
CEO
A. Jayson Adair
Employees
Incorporated
Location
Fiscal year end
SEC CIK
IRS number
942867490

CPRT stock data

(
)

Calendar

23 Feb 21
13 Apr 21
31 Jul 21
Quarter (USD)
Jan 21 Oct 20 Jul 20 Apr 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Jul 20 Jul 19 Jul 18 Jul 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Copart earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
24 Mar 21 Johnson Willis J Common Stock Sell Dispose S No No 106.6598 374,372 39.93M 886,916
23 Mar 21 Johnson Willis J Common Stock Sell Dispose S No No 108.1 234,012 25.3M 1,261,288
15 Mar 21 James E Meeks Common Stock Sell Dispose S No No 110.5519 77,861 8.61M 0
15 Mar 21 James E Meeks Common Stock Option exercise Aquire M No No 19.625 77,861 1.53M 77,861
15 Mar 21 James E Meeks Stock Option Common Stock Option exercise Dispose M No No 19.625 77,861 1.53M 0
12 Mar 21 James E Meeks Common Stock Sell Dispose S No No 110.2038 2,139 235.73K 0
12 Mar 21 James E Meeks Common Stock Option exercise Aquire M No No 19.625 2,139 41.98K 2,139
12 Mar 21 James E Meeks Stock Option Common Stock Option exercise Dispose M No No 19.625 2,139 41.98K 77,861
9 Mar 21 Liaw Jeffrey Employee Stock Option Common Stock Grant Aquire A No No 106.31 0 0 80,000

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

80.7% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 720 682 +5.6%
Opened positions 112 94 +19.1%
Closed positions 74 76 -2.6%
Increased positions 264 225 +17.3%
Reduced positions 256 263 -2.7%
13F shares
Current Prev Q Change
Total value 24.26B 23.33B +4.0%
Total shares 190.66M 187.14M +1.9%
Total puts 389.4K 452.4K -13.9%
Total calls 1.48M 1.52M -2.2%
Total put/call ratio 0.3 0.3 -12.0%
Largest owners
Shares Value Change
Vanguard 22.41M $2.85B -0.9%
BLK Blackrock 20.38M $2.59B +2.5%
STT State Street 8.8M $1.12B -0.2%
Wellington Management 7.92M $1.01B +6.0%
PFG Principal Financial Group Inc - Registered Shares 7.24M $921.22M -3.9%
Alliancebernstein 5.47M $696.23M +9.4%
Capital World Investors 4.98M $633.09M +0.7%
Brown Brothers Harriman & Co 4.14M $527.33M -16.8%
TROW T. Rowe Price 4.07M $518.26M +450.4%
USB U.S. Bancorp. 3.86M $491.49M -9.6%
Largest transactions
Shares Bought/sold Change
TROW T. Rowe Price 4.07M +3.33M +450.4%
Norges Bank 2M +2M NEW
Brown Brothers Harriman & Co 4.14M -838.19K -16.8%
MS Morgan Stanley 1.46M +707.89K +93.9%
Suvretta Capital Management 0 -674.91K EXIT
Clearbridge Advisors 817.24K -616.03K -43.0%
Candlestick Capital Management 1.08M +565K +110.8%
BLK Blackrock 20.38M +494.13K +2.5%
Fred Alger Management 650.7K +473.81K +267.9%
Alliancebernstein 5.47M +471.73K +9.4%

Financial report summary

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Competition
AdesaIAA
Risks
  • We depend on a limited number of major vehicle sellers for a substantial portion of our revenues. The loss of one or more of these major sellers could adversely affect our consolidated results of operations and financial position, and an inability to increase our sources of vehicle supply could adversely affect our growth rates.
  • Our expansion into markets outside the U.S., including expansions in Europe, Brazil, and the Middle East expose us to risks arising from operating in international markets. Any failure to successfully integrate businesses acquired or operational capabilities established outside the U.S. could have an adverse effect on our consolidated results of operations, financial position, or cash flows.
  • Our business is exposed to risks associated with online commerce security and credit card fraud.
  • Implementation of our online auction model in new markets may not result in the same synergies and benefits that we achieved when we implemented the model in the U.S., Canada, and the U.K.
  • Failure to have sufficient capacity to accept additional cars at one or more of our storage facilities could adversely affect our relationships with insurance companies or other sellers of vehicles.
  • Because the growth of our business has been due in large part to acquisitions and development of new facilities, the rate of growth of our business and revenues may decline if we are not able to successfully complete acquisitions and develop new facilities.
  • As we continue to expand our operations, our failure to manage growth could harm our business and adversely affect our consolidated results of operations and financial position.
  • If we experience problems with our subhaulers and trucking fleet operations, our business could be harmed.
  • New member programs could impact our operating results.
  • Factors such as mild weather conditions can have an adverse effect on our revenues and operating results, as well as our revenue and earnings growth rates, by reducing the available supply of salvage vehicles. Conversely, extreme weather conditions can result in an oversupply of salvage vehicles that requires us to incur abnormal expenses to respond to market demands.
  • If we lose key management or are unable to attract and retain the talent required for our business, we may not be able to successfully manage our business or achieve our objectives.
  • The vehicle sales industry is highly competitive and we may not be able to compete successfully.
  • Changes in federal, state and local, or foreign tax laws, changing interpretations of existing tax laws, or adverse determinations by tax authorities could increase our tax burden or otherwise adversely affect our financial condition and results of operations.
  • Our internet-based sales model has increased the relative importance of intellectual property assets to our business, and any inability to protect those rights could have a material adverse effect on our business, financial position, or results of operations.
  • We have in the past been and may in the future be subject to intellectual property rights claims, which are costly to defend, could require us to pay damages, and could limit our ability to use certain technologies in the future.
  • We have developed a new proprietary enterprise operating system, and we may experience difficulties operating our business as we continue to design and develop this system.
  • Decreased utility of internally developed capitalized software could adversely affect our consolidated results of operations and financial condition.
  • Disruptions to our information technology systems, including failure to prevent outages, maintain security, and prevent unauthorized access to our information technology systems and other confidential information, could disrupt our business and materially and adversely affect our reputation, consolidated results of operations, and financial condition.
  • Rapid technological changes may render our technology obsolete or decrease the competitiveness of our services.
  • Our annual and quarterly performance may fluctuate, causing the price of our stock to decline.
  • We are partially self-insured for certain losses and if our estimates of the cost of future claims differ from actual trends, our results of operations could be harmed.
  • Our executive officers, directors and their affiliates hold a large percentage of our stock and their interests may differ from other stockholders.
  • We have certain provisions in our certificate of incorporation and bylaws which may have an anti-takeover effect or that may delay, defer or prevent acquisition bids for us that a stockholder might consider favorable and limit attempts by our stockholders to replace or remove our current management.
  • Cash investments are subject to risks.
  • Macroeconomic factors such as high fuel prices, declines in commodity prices, declines in used car prices, and vehicle-related technological advances may have an adverse effect on our revenues and operating results, as well as our earnings growth rates.
  • Adverse U.S. and international economic conditions may negatively affect our business, operating results, and financial condition.
  • New accounting pronouncements or new interpretations of existing standards could require us to make adjustments to accounting policies that could adversely affect the consolidated financial statements.
  • Fluctuations in foreign currency exchange rates could result in declines in our reported revenues and earnings.
Management Discussion
  • Service Revenues. The increase in service revenues during the three months ended January 31, 2021 of $22.6 million, or 4.4%, as compared to the same period last year resulted from (i) an increase in the U.S. of $18.1 million and (ii) an increase in International of $4.5 million. The growth in the U.S. was driven primarily by (i) an increase in revenue per car, partially offset by (ii) a decrease in volume. The decrease in volume in the U.S. was driven by the COVID-19 pandemic, which reduced accident volume as miles driven declined. Excluding the beneficial impact of $0.6 million due to changes in foreign currency exchange rates, primarily from the change in the British pound, Brazilian real and European Union euro to U.S. dollar exchange rates, the growth in International of $3.9 million was driven primarily by increased revenue per car, partially offset by decreased volume driven by the COVID-19 pandemic, which reduced accident volume as miles driven declined.
Content analysis
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New words: commensurate, flat, nonrecurrence, occasionally, regressed, shown, stalled, steadily
Removed: expire, negotiate, standardize, supporting, transitional