Copart, Inc. $CPRT Shares Purchased by HB Wealth Management LLC

Key Points

• HB Wealth Management LLC increased its stake in Copart, Inc. by 31.4%, owning 84,224 shares valued at approximately $4.13 million as of the latest SEC filing.
• Copart recently reported an earnings per share (EPS) of $0.41 for the quarter, surpassing expectations and reflecting a 2.9% increase in revenue year-over-year.
• Insider sales included selling 228,840 shares by Director Thomas N. Tryforos and a 43.31% decrease in holdings by CEO Jeffrey Liaw.

HB Wealth Management LLC lifted its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 31.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 84,224 shares of the business services provider's stock after acquiring an additional 20,104 shares during the quarter. HB Wealth Management LLC's holdings in Copart were worth $4,133,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cloud Capital Management LLC acquired a new stake in shares of Copart in the first quarter worth $26,000. Atticus Wealth Management LLC acquired a new stake in shares of Copart in the second quarter worth $31,000. Accent Capital Management LLC acquired a new stake in shares of Copart in the first quarter worth $36,000. Financial Network Wealth Advisors LLC grew its position 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 valued at $44,000 after buying an additional 473 shares during the period. Finally, SouthState Corp acquired a new stake in Copart during the first quarter valued at $45,000. Institutional investors and hedge funds own 85.78% of the company's stock.

Copart Stock Up 0.3%

Shares of NASDAQ CPRT opened at $45.09 on Thursday. The company's 50-day simple moving average is $47.03 and its 200-day simple moving average is $51.75. Copart, Inc. has a 52-week low of $44.23 and a 52-week high of $64.38. The firm has a market cap of $43.63 billion, a price-to-earnings ratio of 28.18 and a beta of 1.04.

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 the consensus estimate of $0.37 by $0.04. Copart had a net margin of 33.41% and a return on equity of 18.17%. 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 business earned $0.33 earnings per share. The company's revenue for the quarter was up 2.9% compared to the same quarter last year. Equities research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on CPRT shares. HSBC set a $62.00 price objective on shares of Copart and gave the stock a "buy" rating in a research report on Thursday, September 4th. Robert W. Baird lowered their target price on shares of Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a research note on Thursday, July 17th. Hsbc Global Res raised shares of Copart from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 4th. Finally, Stephens lowered their target price on shares of Copart from $50.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Friday, September 5th. One equities research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.50.

Insider Activity

In other news, Director Thomas N. Tryforos sold 228,840 shares of Copart stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $47.54, for a total value of $10,879,053.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey Liaw sold 24,088 shares of Copart stock in a transaction dated 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 owned 31,527 shares in the company, valued at approximately $1,463,798.61. This trade represents a 43.31% decrease in their position. The disclosure for this sale can be found here. 9.68% of the stock is owned by company insiders.

Copart Company 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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