Robertson Opportunity Capital LLC Lowers Stake in Copart, Inc. $CPRT

Key Points

• Robertson Opportunity Capital LLC reduced its stake in Copart, Inc. by 7.6%, now holding 336,388 shares valued at approximately $19 million, making Copart its fifth largest position.
• Analysts have varied views on Copart, with HSBC setting a price target of $62.00 and others adjusting their targets downward, now suggesting a consensus target price of $54.50.
• Copart reported an earnings per share (EPS) of $0.41 for the last quarter, surpassing estimates, with a revenue of $1.13 billion, reflecting a 2.9% year-over-year increase.

Robertson Opportunity Capital LLC reduced its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 7.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 336,388 shares of the business services provider's stock after selling 27,800 shares during the quarter. Copart accounts for 7.1% of Robertson Opportunity Capital LLC's portfolio, making the stock its 5th largest position. Robertson Opportunity Capital LLC's holdings in Copart were worth $19,036,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Western Pacific Wealth Management LP grew its position in shares of Copart by 6.5% during the first quarter. Western Pacific Wealth Management LP now owns 2,838 shares of the business services provider's stock worth $161,000 after acquiring an additional 173 shares during the last quarter. Blue Trust Inc. grew its position in Copart by 13.1% in the 1st quarter. Blue Trust Inc. now owns 1,510 shares of the business services provider's stock valued at $85,000 after buying an additional 175 shares in the last quarter. Western Wealth Management LLC grew its position in Copart by 4.0% in the 1st quarter. Western Wealth Management LLC now owns 4,985 shares of the business services provider's stock valued at $282,000 after buying an additional 192 shares in the last quarter. Nixon Peabody Trust Co. boosted its position in shares of Copart by 5.0% during the 1st 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 in the last quarter. Finally, FSM Wealth Advisors LLC boosted its position in shares of Copart by 4.9% during the 1st 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 in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

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 value of $1,118,405.84. Following the transaction, the chief executive officer directly owned 31,527 shares of the company's stock, valued at $1,463,798.61. This represents a 43.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 9.68% of the stock is currently owned by corporate insiders.

Copart Stock Down 0.9%

Shares of CPRT traded down $0.45 on Tuesday, hitting $48.30. The company's stock had a trading volume of 827,560 shares, compared to its average volume of 5,799,350. The firm's fifty day moving average price is $47.46 and its 200-day moving average price is $52.67. Copart, Inc. has a fifty-two week low of $45.05 and a fifty-two week high of $64.38. The firm has a market capitalization of $46.70 billion, a price-to-earnings ratio of 30.18 and a beta of 1.03.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. Copart had a return on equity of 18.17% and a net margin of 33.41%.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 firm earned $0.33 EPS. Copart's quarterly revenue was up 2.9% compared to the same quarter last year. As a group, equities analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on CPRT. Robert W. Baird decreased their target price on shares of Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a report on Thursday, July 17th. Stephens cut their price objective on shares of Copart from $50.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Friday. Hsbc Global Res upgraded shares of Copart from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 4th. JPMorgan Chase & Co. decreased their price target 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. Finally, HSBC set a $62.00 price objective on Copart and gave the company a "buy" rating in a report on Thursday, September 4th. One 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 stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average 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.