Copart, Inc. $CPRT Shares Purchased by Oppenheimer & Co. Inc.

Key Points

• Oppenheimer & Co. increased its stake in Copart by 27.4%, buying 35,919 shares to hold 166,973 shares worth about $6.54 million per its latest SEC filing.
• CEO Jeffrey Liaw sold 26,213 shares at an average price of $33.18 (roughly $869,747), cutting his position by 24.79%; company insiders now own 9.60% of Copart.
• Analysts are mixed: the consensus rating is Hold with a $44.40 target, though several firms have recently trimmed price targets and issued varied buy/hold/sell opinions.

Oppenheimer & Co. Inc. lifted its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 27.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 166,973 shares of the business services provider's stock after acquiring an additional 35,919 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Copart were worth $6,537,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. PDS Planning Inc grew its position in shares of Copart by 4.9% in the 3rd quarter. PDS Planning Inc now owns 5,196 shares of the business services provider's stock worth $234,000 after acquiring an additional 242 shares in the last quarter. Hollencrest Capital Management grew its position in shares of Copart by 13.2% in the 3rd quarter. Hollencrest Capital Management now owns 2,088 shares of the business services provider's stock worth $94,000 after acquiring an additional 244 shares in the last quarter. Unique Wealth LLC grew its position in shares of Copart by 2.3% in the 3rd quarter. Unique Wealth LLC now owns 10,785 shares of the business services provider's stock worth $485,000 after acquiring an additional 245 shares in the last quarter. Howard Capital Management Inc. grew its position in shares of Copart by 1.1% in the 3rd quarter. Howard Capital Management Inc. now owns 24,163 shares of the business services provider's stock worth $1,087,000 after acquiring an additional 253 shares in the last quarter. Finally, Cornerstone Planning Group LLC grew its position in shares of Copart by 54.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider's stock worth $31,000 after acquiring an additional 256 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company's stock.

Analysts Set New Price Targets

CPRT has been the subject of several research reports. Zacks Research upgraded Copart from a "strong sell" rating to a "hold" rating in a research report on Monday, April 27th. Weiss Ratings lowered Copart from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday. Barclays reiterated an "underweight" rating and issued a $32.00 target price (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. JPMorgan Chase & Co. decreased their target price on Copart from $45.00 to $34.00 and set a "neutral" rating for the company in a research report on Monday, February 23rd. Finally, Robert W. Baird set a $48.00 target price on Copart and gave the stock an "outperform" rating in a research report on Friday, February 20th. Two investment 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 issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $44.40.

Insider Activity

In related news, CEO Jeffrey Liaw sold 26,213 shares of the firm's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total value of $869,747.34. Following the sale, the chief executive officer owned 79,532 shares of the company's stock, valued at approximately $2,638,871.76. This trade represents a 24.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 9.60% of the company's stock.

Copart Trading Up 0.4%

Shares of NASDAQ CPRT opened at $33.26 on Friday. The company has a market cap of $32.03 billion, a price-to-earnings ratio of 20.78 and a beta of 1.02. Copart, Inc. has a 12-month low of $32.20 and a 12-month high of $63.85. The stock's 50 day simple moving average is $34.31 and its 200 day simple moving average is $38.27.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.03). The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.15 billion. Copart had a return on equity of 16.68% and a net margin of 33.76%.The company's revenue for the quarter was down 3.6% on a year-over-year basis. During the same period last year, the business posted $0.40 EPS. As a group, equities analysts forecast that Copart, Inc. will post 1.58 earnings per share for the current fiscal 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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