Copart, Inc. (NASDAQ:CPRT) Position Lowered by Navellier & Associates Inc.

Key Points

• Navellier & Associates Inc. has reduced its stake in Copart, Inc. by 25.3%, now holding 20,011 shares valued at approximately $1.22 million.
• CEO Jeffrey Liaw sold 24,088 shares of Copart, representing a 43.31% decrease in his ownership, bringing his remaining shares to 31,527.
• Several institutional investors have increased their holdings in Copart, contributing to the company being 85.78% owned by institutional investors overall.

Navellier & Associates Inc. decreased its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 25.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,011 shares of the business services provider's stock after selling 6,774 shares during the period. Navellier & Associates Inc.'s holdings in Copart were worth $1,222,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of CPRT. Cloud Capital Management LLC bought a new position in Copart in the first quarter worth about $26,000. Sunbelt Securities Inc. bought a new position in Copart in the fourth quarter worth about $31,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in Copart in the fourth quarter worth about $45,000. Versant Capital Management Inc lifted its holdings in Copart by 1,567.9% in the first quarter. Versant Capital Management Inc now owns 884 shares of the business services provider's stock worth $50,000 after acquiring an additional 831 shares during the last quarter. Finally, Cornerstone Planning Group LLC lifted its holdings in Copart by 51.3% in the first quarter. Cornerstone Planning Group LLC now owns 829 shares of the business services provider's stock worth $51,000 after acquiring an additional 281 shares during the last quarter. Institutional investors own 85.78% of the company's stock.

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 24,088 shares of the firm'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 transaction, the chief executive officer owned 31,527 shares in the company, valued at $1,463,798.61. This trade represents a 43.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.68% of the stock is owned by corporate insiders.

Copart Trading Up 0.9%

Shares of NASDAQ:CPRT opened at $46.69 on Friday. The firm's 50 day moving average is $49.89 and its two-hundred day moving average is $54.95. Copart, Inc. has a 52 week low of $45.52 and a 52 week high of $64.38. The firm has a market capitalization of $45.15 billion, a P/E ratio of 30.72 and a beta of 1.07.

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

Analyst Upgrades and Downgrades

CPRT has been the topic of a number of recent research reports. 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 report on Friday, May 23rd. Stephens initiated 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. Finally, Robert W. Baird dropped 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.

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.

Want to see what other hedge funds are holding CPRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Copart, Inc. (NASDAQ:CPRT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.