Corient Private Wealth LLC Has $26.42 Million Stock Position in Copart, Inc. $CPRT

Key Points

• Corient Private Wealth LLC reduced its Copart stake by 8.6% in the fourth quarter, selling 63,185 shares and ending with 673,873 shares worth about $26.4 million.
• Copart reported better-than-expected quarterly results, posting EPS of $0.43 versus $0.41 expected and revenue of $1.24 billion versus $1.19 billion expected. Revenue rose 2.1% year over year.
• The stock was down 2.5% and traded near its 1-year low, while analysts remain cautious overall with a consensus Hold rating and an average price target of $44.50.

Corient Private Wealth LLC cut its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 8.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 673,873 shares of the business services provider's stock after selling 63,185 shares during the period. Corient Private Wealth LLC owned 0.07% of Copart worth $26,423,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CPRT. Quadrant Capital Group LLC boosted its stake in shares of Copart by 1.3% in the 3rd quarter. Quadrant Capital Group LLC now owns 20,693 shares of the business services provider's stock valued at $931,000 after purchasing an additional 264 shares during the last quarter. Sierra Legacy Group lifted its holdings in Copart by 1.9% in the fourth quarter. Sierra Legacy Group now owns 13,880 shares of the business services provider's stock valued at $543,000 after buying an additional 265 shares during the period. Geneos Wealth Management Inc. boosted its position in Copart by 23.8% during the second quarter. Geneos Wealth Management Inc. now owns 1,384 shares of the business services provider's stock valued at $68,000 after acquiring an additional 266 shares during the last quarter. Brown Miller Wealth Management LLC grew its holdings in Copart by 3.8% during the 4th quarter. Brown Miller Wealth Management LLC now owns 7,310 shares of the business services provider's stock worth $286,000 after acquiring an additional 268 shares during the period. Finally, Valeo Financial Advisors LLC grew its holdings in Copart by 4.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 6,395 shares of the business services provider's stock worth $250,000 after acquiring an additional 282 shares during the period. Institutional investors and hedge funds own 85.78% of the company's stock.

Copart Trading Down 2.5%

Shares of NASDAQ CPRT opened at $29.48 on Tuesday. The firm has a market capitalization of $27.29 billion, a P/E ratio of 18.31 and a beta of 1.01. The firm's 50-day moving average price is $32.48 and its 200-day moving average price is $35.81. Copart, Inc. has a 1-year low of $29.41 and a 1-year high of $50.11.

Copart (NASDAQ:CPRT - Get Free Report) last issued its earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.19 billion. Copart had a return on equity of 16.63% and a net margin of 33.48%.The firm's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the business posted $0.42 EPS. Equities research analysts forecast that Copart, Inc. will post 1.58 EPS for the current year.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 26,213 shares of the business's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the completion of the sale, the chief executive officer owned 79,532 shares in the company, valued at $2,638,871.76. The trade was a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 9.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Barclays reissued an "underweight" rating and issued a $32.00 price objective (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. JPMorgan Chase & Co. lowered their target price on Copart from $45.00 to $34.00 and set a "neutral" rating for the company in a report on Monday, February 23rd. Jefferies Financial Group set a $45.00 price target on Copart in a research note on Friday, May 22nd. Weiss Ratings cut Copart from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, May 1st. Finally, Zacks Research raised shares of Copart from a "strong sell" rating to a "hold" rating in a research report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $44.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.