Copart, Inc. $CPRT Shares Bought by MassMutual Private Wealth & Trust FSB

Key Points

• MassMutual Private Wealth & Trust FSB increased its Copart stake by 3,034.7% in the third quarter, acquiring 194,159 additional shares and bringing its holdings to 200,557 shares worth approximately $5.47 million. Institutional investors and hedge funds own 85.78% of Copart.
• Copart’s latest quarterly revenue rose 2.4% year over year to $1.15 billion, exceeding estimates, but earnings of $0.35 per share missed consensus by $0.03. The stock opened at $27.65, near its one-year low of $26.74.
• Analyst sentiment remains mixed but leans positive, with a consensus rating of “Moderate Buy” and an average price target of $37.80. CEO Jeffrey Liaw also sold 27,745 shares at an average price of $30.49.

MassMutual Private Wealth & Trust FSB lifted its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 3,034.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 200,557 shares of the business services provider's stock after buying an additional 194,159 shares during the period. MassMutual Private Wealth & Trust FSB's holdings in Copart were worth $5,471,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CPRT. Miller Global Investments LLC increased its position in shares of Copart by 30.3% in the third quarter. Miller Global Investments LLC now owns 3,649 shares of the business services provider's stock worth $100,000 after purchasing an additional 849 shares during the period. GoalVest Advisory LLC acquired a new position in Copart in the third quarter valued at about $552,000. Global Wealth Strategies & Associates bought a new stake in Copart during the third quarter worth about $42,000. Versant Capital Management Inc lifted its position in Copart by 831.7% during the third quarter. Versant Capital Management Inc now owns 8,823 shares of the business services provider's stock worth $241,000 after purchasing an additional 7,876 shares during the period. Finally, Roxbury Financial LLC acquired a new stake in Copart during the third quarter worth about $222,000. Institutional investors and hedge funds own 85.78% of the company's stock.

Copart Trading Up 1.6%

CPRT opened at $27.65 on Tuesday. The company has a market cap of $25.61 billion, a P/E ratio of 17.84, a PEG ratio of 1.32 and a beta of 1.06. The company's 50 day moving average is $30.56 and its 200-day moving average is $31.18. Copart, Inc. has a 1-year low of $26.74 and a 1-year high of $45.89.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings data on Thursday, September 10th. The business services provider reported $0.35 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.03). Copart had a net margin of 31.81% and a return on equity of 15.93%. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the company earned $0.41 EPS. Copart's revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities analysts forecast that Copart, Inc. will post 1.65 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Weiss Ratings reissued a "sell (d+)" rating on shares of Copart in a report on Wednesday, July 29th. Freedom Capital raised shares of Copart to a "strong-buy" rating in a report on Friday, June 26th. Zacks Research upgraded shares of Copart from a "strong sell" rating to a "hold" rating in a research report on Monday, September 7th. Stephens reissued an "equal weight" rating and issued a $35.00 price objective on shares of Copart in a research note on Thursday, August 20th. Finally, Barclays set a $25.00 price objective on shares of Copart and gave the company an "underweight" rating in a research report on Wednesday, August 26th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Copart currently has a consensus rating of "Moderate Buy" and an average target price of $37.80.

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 27,745 shares of the firm's stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total transaction of $845,945.05. Following the sale, the chief executive officer owned 99,641 shares of the company's stock, valued at $3,038,054.09. This trade represents a 21.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 9.60% of the company's stock.

Copart Profile

Copart, Inc is a global provider of online vehicle auction and remarketing services. The company primarily sells vehicles that have been damaged, totaled, recovered from theft, or otherwise deemed uneconomical to repair. Its customers include insurance companies, automobile dealers, dismantlers, rebuilders, exporters, rental and finance companies, and members of the general public.

Copart conducts auctions through its online VB3 platform, which connects buyers with vehicles listed at the company's facilities.

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