Copart, Inc. $CPRT Shares Sold by HWG Holdings LP

Key Points

• HWG Holdings LP significantly reduced its stake in Copart, Inc. by 95.2% during the second quarter, leaving the firm with 4,390 shares valued at approximately $215,000.
• CEO Jeffrey Liaw sold 24,088 shares of Copart's stock for over $1.1 million, which resulted in a 43.31% decrease in his ownership.
• Copart reported $1.13 billion in revenue for the most recent quarter, representing a 2.9% year-over-year increase, with an earnings per share (EPS) of $0.41, beating expectations.

HWG Holdings LP decreased its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 95.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,390 shares of the business services provider's stock after selling 87,677 shares during the quarter. HWG Holdings LP's holdings in Copart were worth $215,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Western Pacific Wealth Management LP lifted its holdings in shares of Copart by 6.5% during the 1st quarter. Western Pacific Wealth Management LP now owns 2,838 shares of the business services provider's stock valued at $161,000 after acquiring an additional 173 shares in the last quarter. Blue Trust Inc. increased its position in shares of Copart by 13.1% in the 1st quarter. Blue Trust Inc. now owns 1,510 shares of the business services provider's stock worth $85,000 after purchasing an additional 175 shares during the last quarter. Western Wealth Management LLC increased its position in shares of Copart by 4.0% in the 1st quarter. Western Wealth Management LLC now owns 4,985 shares of the business services provider's stock worth $282,000 after purchasing an additional 192 shares during the last quarter. Nixon Peabody Trust Co. increased its position in shares of Copart by 5.0% in the 1st quarter. Nixon Peabody Trust Co. now owns 4,108 shares of the business services provider's stock worth $232,000 after purchasing an additional 195 shares during the last quarter. Finally, FSM Wealth Advisors LLC increased its position in shares of Copart by 4.9% in the 1st quarter. FSM Wealth Advisors LLC now owns 4,649 shares of the business services provider's stock worth $263,000 after purchasing an additional 218 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company's stock.

Insider Buying and Selling

In other news, CEO Jeffrey Liaw sold 24,088 shares of the business's stock in a transaction that occurred on 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 sale, the chief executive officer owned 31,527 shares in the company, valued at $1,463,798.61. The trade was a 43.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas N. Tryforos sold 228,840 shares of the business's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $47.54, for a total transaction of $10,879,053.60. The disclosure for this sale can be found here. 9.68% of the stock is owned by insiders.

Copart Price Performance

CPRT stock opened at $46.62 on Thursday. Copart, Inc. has a 12 month low of $45.05 and a 12 month high of $64.38. The firm has a market cap of $45.08 billion, a PE ratio of 29.14 and a beta of 1.03. The firm has a 50 day simple moving average of $47.31 and a 200 day simple moving average of $52.32.

Copart (NASDAQ:CPRT - Get Free Report) last released its earnings results on Thursday, September 4th. The business services provider reported $0.41 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 during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the business earned $0.33 earnings per share. The business's quarterly revenue was up 2.9% on a year-over-year basis. As a group, sell-side analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Robert W. Baird dropped their target price on shares of Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a research report on Thursday, July 17th. Stephens lowered their price objective on shares of Copart from $50.00 to $46.00 and set an "equal weight" rating for the company in a research report on Friday, September 5th. HSBC set a $62.00 price objective on shares of Copart and gave the company a "buy" rating in a research report on Thursday, September 4th. Finally, Hsbc Global Res upgraded shares of Copart from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.50.

Copart 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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