Copart, Inc. $CPRT Stake Increased by Captrust Financial Advisors

Key Points

• Captrust Financial Advisors boosted its Copart stake by 12.3% in the fourth quarter, buying 253,425 shares and bringing its total to 2.32 million shares worth about $90.8 million.
• Copart’s CEO Jeffrey Liaw sold 26,213 shares on April 15 at an average price of $33.18, reducing his ownership by about 24.8%.
• Analysts remain mixed on CPRT, with an average rating of “Hold” and an average target price of $44.50, while the stock recently traded near $30.74 after Copart reported better-than-expected quarterly earnings and revenue.

Captrust Financial Advisors increased its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 12.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,320,462 shares of the business services provider's stock after buying an additional 253,425 shares during the period. Captrust Financial Advisors owned about 0.24% of Copart worth $90,846,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Quadrant Capital Group LLC increased its stake in shares of Copart by 1.3% in the third quarter. Quadrant Capital Group LLC now owns 20,693 shares of the business services provider's stock worth $931,000 after buying an additional 264 shares during the last quarter. Sierra Legacy Group increased its stake in shares of Copart by 1.9% in the fourth quarter. Sierra Legacy Group now owns 13,880 shares of the business services provider's stock worth $543,000 after buying an additional 265 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Copart by 23.8% in the second quarter. Geneos Wealth Management Inc. now owns 1,384 shares of the business services provider's stock worth $68,000 after buying an additional 266 shares during the last quarter. Brown Miller Wealth Management LLC increased its stake in shares of Copart by 3.8% in the fourth quarter. Brown Miller Wealth Management LLC now owns 7,310 shares of the business services provider's stock worth $286,000 after buying an additional 268 shares during the last quarter. Finally, Valeo Financial Advisors LLC increased its stake in shares of Copart by 4.6% in the fourth quarter. Valeo Financial Advisors LLC now owns 6,395 shares of the business services provider's stock worth $250,000 after buying an additional 282 shares during the last quarter. Institutional investors own 85.78% of the company's stock.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CPRT. Weiss Ratings lowered shares of Copart from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, May 1st. Jefferies Financial Group set a $45.00 target price on shares of Copart in a research note on Friday, May 22nd. JPMorgan Chase & Co. lowered their target price on shares of Copart from $45.00 to $34.00 and set a "neutral" rating for the company in a research note on Monday, February 23rd. Barclays reiterated an "underweight" rating and set a $32.00 target price (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. Finally, Robert W. Baird set a $48.00 target price on shares of Copart and gave the company an "outperform" rating in a research note on Friday, February 20th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $44.50.

Copart Price Performance

CPRT stock opened at $30.74 on Wednesday. Copart, Inc. has a 1-year low of $29.97 and a 1-year high of $50.11. The firm has a fifty day moving average price of $32.74 and a two-hundred day moving average price of $36.06. The firm has a market cap of $28.46 billion, a price-to-earnings ratio of 19.09 and a beta of 1.00.

Copart (NASDAQ:CPRT - Get Free Report) last released its earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.02. Copart had a net margin of 33.48% and a return on equity of 16.63%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the firm earned $0.42 earnings per share. The firm's revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, analysts expect that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Copart Company Profile

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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