Fairtree Asset Management Pty Ltd acquired a new position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 34,776 shares of the business services provider's stock, valued at approximately $980,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Reflection Asset Management bought a new position in Copart in the fourth quarter valued at approximately $34,000. Cache Advisors LLC bought a new stake in shares of Copart during the 1st quarter worth approximately $31,000. Versant Capital Management Inc boosted its holdings in shares of Copart by 110.9% in the 2nd quarter. Versant Capital Management Inc now owns 947 shares of the business services provider's stock valued at $27,000 after buying an additional 498 shares during the last quarter. Triumph Capital Management boosted its holdings in shares of Copart by 424.2% in the 4th quarter. Triumph Capital Management now owns 1,017 shares of the business services provider's stock valued at $40,000 after buying an additional 823 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in shares of Copart by 365.8% in the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider's stock valued at $63,000 after buying an additional 878 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company's stock.
Analyst Ratings Changes
Several research firms have issued reports on CPRT. Stephens reaffirmed an "equal weight" rating and set a $35.00 price target on shares of Copart in a research report on Thursday. Zacks Research cut shares of Copart from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 28th. Freedom Capital upgraded shares of Copart to a "strong-buy" rating in a research note on Friday, June 26th. Barclays set a $26.00 target price on shares of Copart and gave the company an "underweight" rating in a research note on Tuesday, July 21st. Finally, Jefferies Financial Group set a $45.00 price target on Copart in a research report on Friday, May 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $41.67.
Check Out Our Latest Research Report on Copart
Copart Price Performance
CPRT stock opened at $34.33 on Friday. The company has a fifty day moving average price of $29.43 and a two-hundred day moving average price of $32.70. Copart, Inc. has a one year low of $26.81 and a one year high of $50.11. The stock has a market cap of $31.78 billion, a price-to-earnings ratio of 21.32 and a beta of 1.01.
Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly earnings data 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. Copart had a net margin of 33.48% and a return on equity of 16.63%. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the company earned $0.42 earnings per share. The company's quarterly revenue was up 2.1% on a year-over-year basis. Research analysts anticipate that Copart, Inc. will post 1.58 EPS for the current fiscal year.
Insider Transactions at Copart
In other news, CEO Jeffrey Liaw sold 27,745 shares of the business's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total transaction of $845,945.05. Following the completion of the sale, the chief executive officer owned 99,641 shares in the company, valued at $3,038,054.09. The trade was a 21.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 9.60% of the stock is owned by company insiders.
Copart Profile
(
Free Report)
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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