Copart, Inc. $CPRT Shares Sold by Harbour Trust & Investment Management Co

Key Points

• Harbour Trust & Investment Management Co cut its stake in Copart (NASDAQ:CPRT) by 24.2% in Q4, selling 46,380 shares and leaving it with 145,157 shares valued at about $5.68 million.
• CEO Jeffrey Liaw sold 26,213 shares on April 15 at an average price of $33.18 for roughly $869,747, reducing his ownership by 24.79% to 79,532 shares (insiders own 9.6%).
• Copart missed quarterly estimates, reporting $0.36 EPS vs. $0.39 expected and $1.12B in revenue vs. $1.15B, with revenue down 3.6% year-over-year; the stock trades near its 52-week low (~$32.20) and carries a consensus "Hold" with a $44.40 target.

Harbour Trust & Investment Management Co decreased its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 24.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,157 shares of the business services provider's stock after selling 46,380 shares during the period. Harbour Trust & Investment Management Co's holdings in Copart were worth $5,683,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CPRT. Cloud Capital Management LLC bought a new position in Copart during the third quarter valued at about $25,000. Lodestone Wealth Management LLC acquired a new stake in Copart in the 4th quarter valued at about $25,000. Tripletail Wealth Management LLC acquired a new stake in Copart in the 3rd quarter valued at about $27,000. LRI Investments LLC boosted its position in shares of Copart by 125.2% during the 3rd quarter. LRI Investments LLC now owns 653 shares of the business services provider's stock valued at $29,000 after purchasing an additional 363 shares in the last quarter. Finally, Cornerstone Planning Group LLC grew its stake 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 purchasing an additional 256 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Copart Price Performance

NASDAQ CPRT opened at $33.68 on Thursday. The firm has a market capitalization of $32.44 billion, a price-to-earnings ratio of 21.05 and a beta of 1.14. The company has a 50 day simple moving average of $34.80 and a 200-day simple moving average of $38.73. Copart, Inc. has a 52-week low of $32.20 and a 52-week high of $63.85.

Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly earnings data on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). Copart had a net margin of 33.76% and a return on equity of 16.68%. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the company posted $0.40 EPS. The firm's quarterly revenue was down 3.6% compared to the same quarter last year. On average, analysts predict that Copart, Inc. will post 1.58 EPS for the current year.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 26,213 shares of the company's stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total value of $869,747.34. Following the transaction, the chief executive officer directly owned 79,532 shares of the company's stock, valued at approximately $2,638,871.76. This represents a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 9.60% of the company's stock.

Analyst Upgrades and Downgrades

CPRT has been the topic of a number of research reports. Weiss Ratings reiterated a "hold (c-)" rating on shares of Copart in a report on Monday, March 23rd. Robert W. Baird set a $48.00 target price on shares of Copart and gave the stock an "outperform" rating in a report on Friday, February 20th. JPMorgan Chase & Co. dropped their price target on Copart from $45.00 to $34.00 and set a "neutral" rating on the stock in a report on Monday, February 23rd. Barclays reissued an "underweight" rating and set a $32.00 price objective (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. Finally, Zacks Research downgraded Copart from a "hold" rating to a "strong sell" rating in a report on Tuesday, February 24th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Copart has an average rating of "Hold" and a consensus price target of $44.40.

About Copart

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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