Copart, Inc. (NASDAQ:CPRT) Shares Sold by Blair William & Co. IL

Key Points

• Blair William & Co. IL reduced its stake in Copart, Inc. by 0.4%, now owning approximately $291.6 million in shares, making it the 23rd largest position in their portfolio.
• Copart's recent earnings report showed a 7.5% year-over-year revenue increase with net revenue of $1.21 billion, meeting the earnings per share consensus of $0.42.
• Insider transactions revealed CEO Jeffrey Liaw sold 24,088 shares valued at over $1.1 million, resulting in a 43.31% decrease in his ownership stake.

Blair William & Co. IL lowered its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 0.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,152,588 shares of the business services provider's stock after selling 22,865 shares during the period. Copart comprises 0.9% of Blair William & Co. IL's investment portfolio, making the stock its 23rd biggest position. Blair William & Co. IL owned approximately 0.53% of Copart worth $291,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the business. Cloud Capital Management LLC purchased a new position in Copart during the 1st quarter worth approximately $26,000. Sunbelt Securities Inc. purchased a new position in shares of Copart in the 4th quarter valued at approximately $31,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Copart in the 4th quarter valued at approximately $45,000. Versant Capital Management Inc lifted its holdings in shares of Copart by 1,567.9% in the 1st quarter. Versant Capital Management Inc now owns 884 shares of the business services provider's stock valued at $50,000 after buying an additional 831 shares during the period. Finally, Cornerstone Planning Group LLC raised its holdings in Copart by 51.3% during the first quarter. Cornerstone Planning Group LLC now owns 829 shares of the business services provider's stock worth $51,000 after purchasing an additional 281 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company's stock.

Copart Stock Performance

NASDAQ:CPRT opened at $45.51 on Friday. Copart, Inc. has a one year low of $45.05 and a one year high of $64.38. The business's 50-day simple moving average is $48.47 and its 200 day simple moving average is $54.59. The stock has a market cap of $44.01 billion, a price-to-earnings ratio of 29.94 and a beta of 1.04.

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Stephens began coverage on Copart in a research report on Tuesday, July 8th. They issued an "equal weight" rating and a $50.00 price objective for the company. Finally, Robert W. Baird lowered their price target on Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a research report on Thursday, July 17th.

Insider Transactions at Copart

In other news, CEO Jeffrey Liaw sold 24,088 shares of the stock in a transaction that occurred 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 sale, the chief executive officer directly owned 31,527 shares in the company, valued at approximately $1,463,798.61. This represents a 43.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.68% of the stock is owned by insiders.

Copart Company 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.

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