Knollwood Investment Advisory LLC Sells 11,000 Shares of Copart, Inc. $CPRT

Key Points

• Knollwood Investment Advisory LLC reduced its stake in Copart, Inc. by 18.0% in Q1, selling 11,000 shares and holding 50,000 shares valued at approximately $2.83 million.
• Copart's CEO, Jeffrey Liaw, sold 24,088 shares, reducing his holdings by 43.31% to a total of 31,527 shares, valued at around $1.46 million.
• Copart reported earnings of $0.42 per share for the latest quarter, meeting analysts' expectations, but with revenue slightly below estimates at $1.21 billion.

Knollwood Investment Advisory LLC lessened its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 18.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 50,000 shares of the business services provider's stock after selling 11,000 shares during the quarter. Knollwood Investment Advisory LLC's holdings in Copart were worth $2,830,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Western Pacific Wealth Management LP boosted its holdings in 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 during the period. Blue Trust Inc. increased its stake in Copart by 13.1% in the first 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 period. Western Wealth Management LLC lifted its position in shares of Copart by 4.0% during the first 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. boosted its stake in shares of Copart by 5.0% during the first quarter. Nixon Peabody Trust Co. now owns 4,108 shares of the business services provider's stock valued at $232,000 after purchasing an additional 195 shares during the period. Finally, FSM Wealth Advisors LLC boosted its stake in shares of Copart by 4.9% during the first quarter. FSM Wealth Advisors LLC now owns 4,649 shares of the business services provider's stock valued at $263,000 after purchasing an additional 218 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on CPRT shares. Stephens began coverage on shares of Copart in a research note on Tuesday, July 8th. They issued an "equal weight" rating and a $50.00 price target on the stock. Robert W. Baird dropped 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. Finally, JPMorgan Chase & Co. reduced their target price on shares of Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $53.33.

Copart Price Performance

NASDAQ CPRT traded up $1.28 during trading on Friday, reaching $48.96. 6,224,584 shares of the company's stock traded hands, compared to its average volume of 5,532,967. The firm has a market cap of $47.34 billion, a price-to-earnings ratio of 32.21 and a beta of 1.04. The company's 50 day simple moving average is $47.34 and its two-hundred day simple moving average is $53.53. Copart, Inc. has a 12-month low of $45.05 and a 12-month high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. Copart had a net margin of 32.21% and a return on equity of 18.20%. The firm had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter in the prior year, the company earned $0.39 EPS. The company's revenue was up 7.5% compared to the same quarter last year. Research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of the company's stock in a transaction on Tuesday, July 15th. The stock was 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 $1,463,798.61. This represents a 43.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 9.68% of the stock is owned by company insiders.

About Copart

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.