Algert Global LLC Grows Stock Holdings in Copart, Inc. $CPRT

Key Points

• Algert Global LLC increased its stake in Copart, Inc. by 122.6% in the first quarter, now holding 11,185 shares valued at approximately $633,000.
• Copart reported a net margin of 32.21% and earnings per share of $0.42 for the last quarter, meeting analyst expectations.
• Company insider, CEO Jeffrey Liaw, sold 24,088 shares at an average price of $46.43, reducing their ownership by 43.31%.

Algert Global LLC raised its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 122.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,185 shares of the business services provider's stock after buying an additional 6,160 shares during the period. Algert Global LLC's holdings in Copart were worth $633,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CPRT. Cloud Capital Management LLC acquired a new stake in shares of Copart in the first quarter valued at $26,000. Sunbelt Securities Inc. acquired a new stake in shares of Copart in the fourth quarter valued at $31,000. Accent Capital Management LLC acquired a new stake in shares of Copart in the first quarter valued at $36,000. Financial Network Wealth Advisors LLC raised its stake in shares of Copart by 152.6% in the first quarter. Financial Network Wealth Advisors LLC now owns 783 shares of the business services provider's stock valued at $44,000 after acquiring an additional 473 shares in the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Copart in the fourth quarter valued at $45,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Price Performance

NASDAQ:CPRT opened at $48.96 on Friday. The firm has a market capitalization of $47.34 billion, a PE ratio of 32.21 and a beta of 1.04. The business's fifty day moving average price is $47.34 and its 200 day moving average price is $53.50. Copart, Inc. has a 12 month low of $45.05 and a 12 month high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last issued its earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. Copart had a net margin of 32.21% and a return on equity of 18.20%. The business had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter in the prior year, the business posted $0.39 EPS. The company's revenue for the quarter was up 7.5% on a year-over-year basis. As a group, equities analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of the company's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total value of $1,118,405.84. Following the completion of the transaction, the chief executive officer owned 31,527 shares in the company, valued at $1,463,798.61. This represents a 43.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 9.68% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Stephens assumed coverage on Copart in a research note on Tuesday, July 8th. They issued an "equal weight" rating and a $50.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective on Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Finally, Robert W. Baird reduced their price objective on Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $53.33.

Copart Company Profile

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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