CTC Alternative Strategies Ltd. Takes $606,000 Position in Copart, Inc. $CPRT

Key Points

• CTC Alternative Strategies Ltd. acquired a new stake in Copart, Inc. valued at approximately $606,000, purchasing 10,700 shares in the first quarter.
• CEO Jeffrey Liaw sold 24,088 shares of Copart's stock for over $1.1 million, marking a significant decrease in his ownership.
• Analysts have lowered their target prices for Copart, with Robert W. Baird setting a new target of $55.00, while HSBC raised their rating to "strong-buy."

CTC Alternative Strategies Ltd. acquired a new stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,700 shares of the business services provider's stock, valued at approximately $606,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Western Pacific Wealth Management LP increased its position in shares of Copart by 6.5% in 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 in the last quarter. Blue Trust Inc. increased its position in shares of Copart by 13.1% in the first quarter. Blue Trust Inc. now owns 1,510 shares of the business services provider's stock worth $85,000 after acquiring an additional 175 shares in the last quarter. Western Wealth Management LLC increased its position in shares of Copart by 4.0% in the first quarter. Western Wealth Management LLC now owns 4,985 shares of the business services provider's stock worth $282,000 after acquiring an additional 192 shares in the last quarter. Nixon Peabody Trust Co. increased its position in shares of Copart by 5.0% in the first quarter. Nixon Peabody Trust Co. now owns 4,108 shares of the business services provider's stock worth $232,000 after acquiring an additional 195 shares in the last quarter. Finally, FSM Wealth Advisors LLC increased its position in shares of Copart by 4.9% in the first quarter. FSM Wealth Advisors LLC now owns 4,649 shares of the business services provider's stock worth $263,000 after acquiring an additional 218 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company's stock.

Insiders Place Their Bets

In other news, CEO Jeffrey Liaw sold 24,088 shares of the company's 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 completion of the transaction, the chief executive officer directly owned 31,527 shares in the company, valued at $1,463,798.61. The trade was a 43.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 9.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CPRT. Robert W. Baird lowered their target price on Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a research note on Thursday, July 17th. Stephens lowered their target price on Copart from $50.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Friday. Hsbc Global Res raised Copart from a "hold" rating to a "strong-buy" rating in a research note on Thursday. JPMorgan Chase & Co. lowered their target price on 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 target price on Copart and gave the company a "buy" rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $54.50.

Copart Stock Performance

CPRT opened at $48.57 on Monday. The business has a 50 day moving average price of $47.47 and a 200 day moving average price of $52.73. Copart, Inc. has a twelve month low of $45.05 and a twelve month high of $64.38. The firm has a market cap of $46.96 billion, a P/E ratio of 30.36 and a beta of 1.03.

Copart (NASDAQ:CPRT - Get Free Report) last posted its earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, topping 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 firm 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 company earned $0.33 EPS. The company's revenue for the quarter was up 2.9% on a year-over-year basis. As a group, analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

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.

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