Akre Capital Management LLC Has $308.03 Million Stake in Copart, Inc. $CPRT

Akre Capital Management LLC raised its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 85.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,867,967 shares of the business services provider's stock after purchasing an additional 3,631,207 shares during the quarter. Copart accounts for approximately 3.4% of Akre Capital Management LLC's holdings, making the stock its 11th largest holding. Akre Capital Management LLC owned 0.81% of Copart worth $308,031,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Atlas Capital Advisors Inc. acquired a new stake in shares of Copart in the fourth quarter valued at approximately $143,000. Aptus Capital Advisors LLC increased its position in shares of Copart by 3.7% in the fourth quarter. Aptus Capital Advisors LLC now owns 396,193 shares of the business services provider's stock valued at $15,511,000 after acquiring an additional 14,157 shares during the last quarter. Kestra Advisory Services LLC increased its position in shares of Copart by 20.4% in the fourth quarter. Kestra Advisory Services LLC now owns 56,533 shares of the business services provider's stock valued at $2,213,000 after acquiring an additional 9,574 shares during the last quarter. Fairbanks Capital Management Inc. acquired a new stake in shares of Copart in the fourth quarter valued at about $986,000. Finally, Parkside Financial Bank & Trust increased its position in shares of Copart by 11.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,793 shares of the business services provider's stock valued at $109,000 after acquiring an additional 288 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Zacks Research raised Copart from a "strong sell" rating to a "hold" rating in a research report on Monday, April 27th. Barclays reaffirmed an "underweight" rating and issued a $32.00 target price (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Robert W. Baird set a $48.00 target price on Copart and gave the company an "outperform" rating in a research report on Friday, February 20th. Weiss Ratings downgraded Copart from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. lowered their target price on Copart from $45.00 to $34.00 and set a "neutral" rating on the stock in a research report on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $44.50.

Copart Stock Down 1.0%

Shares of NASDAQ CPRT opened at $30.75 on Friday. The business's 50 day moving average price is $32.85 and its two-hundred day moving average price is $36.20. The company has a market cap of $28.47 billion, a PE ratio of 19.10 and a beta of 1.00. Copart, Inc. has a twelve month low of $29.97 and a twelve month high of $50.11.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.19 billion. Copart had a return on equity of 16.63% and a net margin of 33.48%.The business's revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.42 earnings per share. As a group, research analysts anticipate that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the business's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the transaction, the chief executive officer owned 79,532 shares of the company's stock, valued at $2,638,871.76. The trade was a 24.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.60% of the stock is currently owned by company insiders.

About Copart

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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