Copart, Inc. $CPRT Shares Acquired by Farther Finance Advisors LLC

Key Points

• Farther Finance Advisors LLC increased its stake in Copart, Inc. by 346.5% during the second quarter, now holding 29,088 shares valued at approximately $1.43 million.
• Copart reported $1.13 billion in revenue for the last quarter, with earnings per share of $0.41, exceeding analyst expectations of $0.37.
• As of now, institutional investors own 85.78% of Copart's stock, indicating significant institutional interest in the company.

Farther Finance Advisors LLC lifted its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 346.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,088 shares of the business services provider's stock after purchasing an additional 22,574 shares during the period. Farther Finance Advisors LLC's holdings in Copart were worth $1,427,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Sowell Financial Services LLC acquired a new stake in Copart in the first quarter valued at $604,000. China Universal Asset Management Co. Ltd. raised its holdings in Copart by 52.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 23,862 shares of the business services provider's stock valued at $1,350,000 after acquiring an additional 8,181 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in Copart by 53.3% in the first quarter. Handelsbanken Fonder AB now owns 854,336 shares of the business services provider's stock valued at $48,347,000 after acquiring an additional 297,210 shares in the last quarter. 111 Capital acquired a new stake in Copart in the fourth quarter valued at $967,000. Finally, Private Trust Co. NA raised its holdings in Copart by 16.5% in the first quarter. Private Trust Co. NA now owns 4,142 shares of the business services provider's stock valued at $234,000 after acquiring an additional 586 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Trading Down 0.2%

Shares of NASDAQ CPRT opened at $45.28 on Wednesday. Copart, Inc. has a twelve month low of $44.95 and a twelve month high of $64.38. The company has a market capitalization of $43.78 billion, a price-to-earnings ratio of 28.30 and a beta of 1.03. The firm has a 50-day moving average of $47.18 and a two-hundred day moving average of $52.07.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.04. Copart had a net margin of 33.41% and a return on equity of 18.17%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the company earned $0.33 EPS. Copart's revenue was up 2.9% on a year-over-year basis. As a group, research analysts predict that Copart, Inc. will post 1.57 earnings per share 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 dated 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 sale, the chief executive officer directly owned 31,527 shares of the company's stock, valued at approximately $1,463,798.61. This represents a 43.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas N. Tryforos sold 228,840 shares of the company's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $47.54, for a total transaction of $10,879,053.60. The disclosure for this sale can be found here. 9.68% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CPRT has been the topic of several recent analyst reports. HSBC set a $62.00 price target on shares of Copart and gave the company a "buy" rating in a report on Thursday, September 4th. Stephens dropped their target price on shares of Copart from $50.00 to $46.00 and set an "equal weight" rating on the stock in a report on Friday, September 5th. Robert W. Baird dropped their target price on shares of Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a report on Thursday, July 17th. Finally, Hsbc Global Res raised shares of Copart from a "hold" rating to a "strong-buy" rating in a 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. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $54.50.

About Copart

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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