Copart, Inc. $CPRT Holdings Lowered by Inspire Investing LLC

Key Points

• Inspire Investing LLC significantly reduced its stake in Copart, Inc. by 75.0% in the 1st quarter, now holding only 5,643 shares valued at approximately $319,000.
• Recent earnings reported by Copart show $0.41 earnings per share, surpassing analyst expectations, while the company achieved a net margin of 33.41% on revenues of $1.13 billion for the quarter.
• CEO Jeffrey Liaw and Director Thomas N. Tryforos both sold significant amounts of stock recently, with Liaw's sale representing a 43.31% decrease in his ownership of the company.

Inspire Investing LLC cut its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 75.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,643 shares of the business services provider's stock after selling 16,935 shares during the period. Inspire Investing LLC's holdings in Copart were worth $319,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CPRT. Cloud Capital Management LLC acquired a new stake in Copart during the first quarter worth approximately $26,000. Sunbelt Securities Inc. purchased a new position in Copart during the fourth quarter worth approximately $31,000. Accent Capital Management LLC purchased a new position in Copart during the first quarter worth approximately $36,000. Financial Network Wealth Advisors LLC raised its stake 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 worth $44,000 after purchasing an additional 473 shares during the period. Finally, SouthState Corp purchased a new position in Copart during the first quarter worth approximately $45,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CPRT has been the topic of a number of recent analyst reports. Robert W. Baird cut their price target 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. JPMorgan Chase & Co. cut their target price on shares of Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Stephens cut 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. HSBC set a $62.00 target price on shares of Copart and gave the company a "buy" rating in a research note on Thursday, September 4th. Finally, Hsbc Global Res raised shares of Copart from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $54.50.

Insider Activity

In related news, 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 value of $1,118,405.84. Following the sale, the chief executive officer directly owned 31,527 shares in the company, valued at $1,463,798.61. This trade represents a 43.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $10,879,053.60. The disclosure for this sale can be found here. Company insiders own 9.68% of the company's stock.

Copart Stock Performance

Shares of NASDAQ CPRT traded down $1.16 during midday trading on Thursday, hitting $45.46. The company's stock had a trading volume of 11,975,820 shares, compared to its average volume of 6,686,829. Copart, Inc. has a 1-year low of $45.05 and a 1-year high of $64.38. The firm's fifty day moving average price is $47.26 and its 200-day moving average price is $52.26. The firm has a market cap of $43.96 billion, a P/E ratio of 28.41 and a beta of 1.03.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly 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 previous year, the business posted $0.33 EPS. The company's quarterly revenue was up 2.9% on a year-over-year basis. As a group, research analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

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.