414,019 Shares in Copart, Inc. $CPRT Bought by Ieq Capital LLC

Key Points

• Ieq Capital LLC bought 414,019 Copart shares during the second quarter, valued at approximately $11.7 million. Institutional investors collectively own 85.78% of the company.
• Analyst sentiment is mixed: Copart has an average “Hold” rating and an average price target of $41.67, with ratings ranging from “strong buy” to “sell.”
• Copart reported quarterly EPS of $0.43, topping estimates of $0.41, while revenue reached $1.24 billion and increased 2.1% year over year. CEO Jeffrey Liaw separately sold 27,745 shares for about $846,000.

Ieq Capital LLC purchased a new stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 414,019 shares of the business services provider's stock, valued at approximately $11,671,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CPRT. Janney Montgomery Scott LLC lifted its holdings in Copart by 14.0% during the first quarter. Janney Montgomery Scott LLC now owns 333,624 shares of the business services provider's stock valued at $11,076,000 after purchasing an additional 41,060 shares in the last quarter. Handelsbanken Fonder AB increased its stake in shares of Copart by 6.4% during the second quarter. Handelsbanken Fonder AB now owns 578,452 shares of the business services provider's stock worth $16,307,000 after purchasing an additional 34,855 shares in the last quarter. Mill Capital Management LLC purchased a new stake in shares of Copart during the second quarter worth about $12,711,000. Focus Partners Advisor Solutions LLC acquired a new position in shares of Copart during the 2nd quarter worth about $1,298,000. Finally, ABN Amro Investment Solutions raised its position in shares of Copart by 82.5% during the 4th quarter. ABN Amro Investment Solutions now owns 199,794 shares of the business services provider's stock worth $7,822,000 after purchasing an additional 90,339 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company's stock.

Insider Buying and Selling at Copart

In other 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 directly 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 SEC, which is available at this hyperlink. 9.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CPRT shares. Zacks Research cut Copart from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 28th. Stephens reissued an "equal weight" rating and set a $35.00 target price on shares of Copart in a report on Thursday. Freedom Capital upgraded Copart to a "strong-buy" rating in a research report on Friday, June 26th. Weiss Ratings restated a "sell (d+)" rating on shares of Copart in a research report on Wednesday, July 29th. Finally, Barclays set a $26.00 price target on Copart and gave the stock an "underweight" rating in a research note on Tuesday, July 21st. Three analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Copart has an average rating of "Hold" and an average target price of $41.67.

Copart Trading Down 1.5%

NASDAQ:CPRT opened at $33.80 on Friday. 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 twelve month low of $26.81 and a twelve month high of $50.11. The company's 50-day moving average price is $29.49 and its 200-day moving average price is $32.71.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.02. The company had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.19 billion. Copart had a net margin of 33.48% and a return on equity of 16.63%. Copart's revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 EPS. On average, analysts expect that Copart, Inc. will post 1.58 earnings per share for the current year.

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.

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