Copart, Inc. $CPRT Shares Sold by Ashford Capital Management Inc.

Key Points

• Ashford Capital Management Inc. reduced its stake in Copart, Inc. by 9.5%, making it the firm's 8th largest investment position, worth approximately $24.2 million.
• Major institutional investors have increased their holdings in Copart, with Brighton Jones LLC increasing its stake by 92.1% in the last quarter.
• Wall Street analysts have mixed ratings on Copart, with a consensus target price dropping to $53.33 and a current average rating of "Hold."

Ashford Capital Management Inc. lowered its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 9.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 428,234 shares of the business services provider's stock after selling 45,159 shares during the period. Copart makes up 3.1% of Ashford Capital Management Inc.'s portfolio, making the stock its 8th biggest position. Ashford Capital Management Inc.'s holdings in Copart were worth $24,234,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Western Pacific Wealth Management LP increased its position in shares of Copart by 6.5% in the first quarter. Western Pacific Wealth Management LP now owns 2,838 shares of the business services provider's stock worth $161,000 after acquiring an additional 173 shares in the last quarter. Blue Trust Inc. increased its position in shares of Copart by 13.1% in the first quarter. Blue Trust Inc. now owns 1,510 shares of the business services provider's stock worth $85,000 after acquiring an additional 175 shares in the last quarter. Western Wealth Management LLC increased its position in shares of Copart by 4.0% in the first quarter. Western Wealth Management LLC now owns 4,985 shares of the business services provider's stock worth $282,000 after acquiring an additional 192 shares in the last quarter. Nixon Peabody Trust Co. increased its position in shares of Copart by 5.0% in the first quarter. Nixon Peabody Trust Co. now owns 4,108 shares of the business services provider's stock worth $232,000 after acquiring an additional 195 shares in the last quarter. Finally, FSM Wealth Advisors LLC increased its position in shares of Copart by 4.9% in the first quarter. FSM Wealth Advisors LLC now owns 4,649 shares of the business services provider's stock worth $263,000 after acquiring an additional 218 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CPRT. Stephens began coverage on shares of Copart in a research report on Tuesday, July 8th. They issued an "equal weight" rating and a $50.00 price objective for the company. JPMorgan Chase & Co. dropped their price objective on shares of Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Finally, Robert W. Baird lowered their price target on shares of Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a report on Thursday, July 17th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $53.33.

Copart Price Performance

CPRT traded up $0.06 during trading hours on Monday, reaching $48.81. 5,330,175 shares of the stock traded hands, compared to its average volume of 5,537,744. The firm's fifty day simple moving average is $47.43 and its two-hundred day simple moving average is $53.02. The company has a market cap of $47.20 billion, a price-to-earnings ratio of 32.11 and a beta of 1.03. Copart, Inc. has a fifty-two week low of $45.05 and a fifty-two week high of $64.38.

Insiders Place Their Bets

In related news, CEO Jeffrey Liaw sold 24,088 shares of the firm's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the completion of the sale, the chief executive officer directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.68% of the company's stock.

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.