Copart, Inc. $CPRT Shares Purchased by Assetmark Inc.

Key Points

• Assetmark Inc. boosted its Copart stake by 21.2% in the first quarter, buying 107,637 additional shares and bringing its total holdings to 614,892 shares valued at about $20.4 million.
• Institutional ownership remains very high, with hedge funds and other institutions holding 85.78% of Copart’s stock, and several firms also increased their positions during recent quarters.
• Copart’s latest earnings beat expectations: it reported EPS of $0.43 versus the $0.41 consensus and revenue of $1.24 billion versus $1.19 billion expected, though the stock was trading near its 52-week low around $27.61.

Assetmark Inc. increased its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 21.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 614,892 shares of the business services provider's stock after buying an additional 107,637 shares during the period. Assetmark Inc. owned about 0.06% of Copart worth $20,414,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Nordea Investment Management AB increased its stake in shares of Copart by 4.1% during the fourth quarter. Nordea Investment Management AB now owns 798,087 shares of the business services provider's stock worth $31,353,000 after buying an additional 31,658 shares during the period. Janney Montgomery Scott LLC grew its holdings in Copart by 14.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 333,624 shares of the business services provider's stock worth $11,076,000 after acquiring an additional 41,060 shares in the last quarter. ABN Amro Investment Solutions increased its position in shares of Copart by 82.5% in the 4th quarter. ABN Amro Investment Solutions now owns 199,794 shares of the business services provider's stock valued at $7,822,000 after purchasing an additional 90,339 shares during the last quarter. Davidson Kahn Capital Management LLC raised its holdings in shares of Copart by 56.3% in the 4th quarter. Davidson Kahn Capital Management LLC now owns 100,151 shares of the business services provider's stock valued at $3,921,000 after purchasing an additional 36,091 shares in the last quarter. Finally, Inlet Private Wealth LLC purchased a new stake in shares of Copart during the 4th quarter worth $2,637,000. Institutional investors and hedge funds own 85.78% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on CPRT shares. Freedom Capital raised Copart to a "strong-buy" rating in a research report on Friday, June 26th. Jefferies Financial Group set a $45.00 target price on Copart in a research report on Friday, May 22nd. Weiss Ratings cut Copart from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, May 1st. Finally, Zacks Research raised Copart from a "strong sell" rating to a "hold" rating in a report on Monday, April 27th. Three equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $44.50.

Copart Stock Performance

Copart stock opened at $27.61 on Friday. Copart, Inc. has a fifty-two week low of $27.23 and a fifty-two week high of $50.11. The company has a market capitalization of $25.56 billion, a P/E ratio of 17.15 and a beta of 1.02. The stock has a 50-day simple moving average of $30.72 and a 200-day simple moving average of $34.48.

Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.19 billion. Copart had a return on equity of 16.63% and a net margin of 33.48%.The firm's quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.42 EPS. As a group, analysts forecast that Copart, Inc. will post 1.58 earnings per share for the current year.

Copart Company Profile

Copart NASDAQ: CPRT is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart's business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.

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