Capital Impact Advisors LLC Purchases New Stake in Copart, Inc. $CPRT

Key Points

• Capital Impact Advisors LLC has acquired a new stake in Copart, Inc., purchasing 172,505 shares valued at approximately $9.76 million, making it the firm's 8th largest holding.
• CEO Jeffrey Liaw recently sold 24,088 shares of Copart stock, representing a 43.31% decrease in his position, and now holds shares valued at approximately $1.46 million.
• Analysts have mixed views on Copart, with target prices ranging from $46.00 to $62.00, indicating a consensus rating of "Moderate Buy."

Capital Impact Advisors LLC purchased a new stake in Copart, Inc. (NASDAQ:CPRT - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 172,505 shares of the business services provider's stock, valued at approximately $9,762,000. Copart comprises 3.7% of Capital Impact Advisors LLC's portfolio, making the stock its 8th largest holding.

Several other hedge funds have also added to or reduced their stakes in the company. Cloud Capital Management LLC bought a new position in Copart during the first quarter worth about $26,000. Sunbelt Securities Inc. bought a new position in Copart during the fourth quarter worth about $31,000. Accent Capital Management LLC bought a new position in Copart during the first quarter worth about $36,000. Financial Network Wealth Advisors LLC boosted its holdings in Copart by 152.6% during the first quarter. Financial Network Wealth Advisors LLC now owns 783 shares of the business services provider's stock worth $44,000 after buying an additional 473 shares during the last quarter. Finally, SouthState Corp bought a new position in Copart during the first quarter worth about $45,000. Institutional investors own 85.78% of the company's stock.

Insider Transactions at Copart

In related news, CEO Jeffrey Liaw sold 24,088 shares of Copart stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total value of $1,118,405.84. Following the sale, the chief executive officer owned 31,527 shares of the company's stock, valued at approximately $1,463,798.61. This trade represents a 43.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 9.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CPRT shares. Stephens reduced their target price on Copart from $50.00 to $46.00 and set an "equal weight" rating on the stock in a report on Friday, September 5th. HSBC set a $62.00 target price on Copart and gave the stock a "buy" rating in a report on Thursday, September 4th. Robert W. Baird reduced their target price on Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a report on Thursday, July 17th. JPMorgan Chase & Co. dropped their price target on Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Finally, Hsbc Global Res raised Copart from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Copart has a consensus rating of "Moderate Buy" and an average target price of $54.50.

Copart Price Performance

NASDAQ CPRT opened at $48.07 on Wednesday. The stock's 50-day moving average is $47.43 and its 200-day moving average is $52.64. Copart, Inc. has a one year low of $45.05 and a one year high of $64.38. The firm has a market cap of $46.48 billion, a P/E ratio of 30.04 and a beta of 1.03.

Copart (NASDAQ:CPRT - Get Free Report) last announced its earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.04. Copart had a return on equity of 18.17% and a net margin of 33.41%.The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the firm earned $0.33 EPS. Copart's revenue for the quarter was up 2.9% compared to the same quarter last year. Equities analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Copart 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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