First Nebraska Trust Co Acquires New Position in Copart, Inc. $CPRT

Key Points

• First Nebraska Trust Co. acquired 104,531 Copart shares during the second quarter, valued at approximately $2.95 million. Institutional investors and hedge funds collectively own 85.78% of the company.
• Copart reported quarterly earnings of $0.43 per share, exceeding estimates of $0.41, while revenue rose 2.1% year over year to $1.24 billion. The stock opened at $33.80, with a market capitalization of $31.29 billion.
• Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $41.67; recent calls included sell and underweight ratings. CEO Jeffrey Liaw also sold 27,745 shares for approximately $846,000.

First Nebraska Trust Co acquired a new stake in Copart, Inc. (NASDAQ:CPRT - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 104,531 shares of the business services provider's stock, valued at approximately $2,947,000.

Other institutional investors have also recently bought and sold shares of the company. Reflection Asset Management acquired a new position in shares of Copart in the 4th quarter valued at $34,000. C M Bidwell & Associates Ltd. bought a new position in shares of Copart in the 2nd quarter worth $25,000. Cache Advisors LLC acquired a new stake in shares of Copart during the first quarter worth $31,000. Versant Capital Management Inc grew its stake in shares of Copart by 110.9% during the second quarter. Versant Capital Management Inc now owns 947 shares of the business services provider's stock worth $27,000 after purchasing an additional 498 shares during the period. Finally, Triumph Capital Management grew its stake in shares of Copart by 424.2% during the fourth quarter. Triumph Capital Management now owns 1,017 shares of the business services provider's stock worth $40,000 after purchasing an additional 823 shares during the period. Institutional investors and hedge funds own 85.78% of the company's stock.

Copart Stock Down 1.5%

CPRT opened at $33.80 on Friday. The stock has a market cap of $31.29 billion, a P/E ratio of 20.99 and a beta of 1.01. Copart, Inc. has a 12 month low of $26.81 and a 12 month high of $50.11. The company has a fifty day simple moving average of $29.49 and a 200 day simple moving average of $32.71.

Copart (NASDAQ:CPRT - Get Free Report) last posted its earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.02. Copart had a return on equity of 16.63% and a net margin of 33.48%.The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the company posted $0.42 earnings per share. The company's revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts expect that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 27,745 shares of the firm's stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total transaction of $845,945.05. Following the sale, the chief executive officer owned 99,641 shares of the company's stock, valued at $3,038,054.09. This trade represents a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CPRT shares. Weiss Ratings reissued a "sell (d+)" rating on shares of Copart in a research note on Wednesday, July 29th. Jefferies Financial Group set a $45.00 target price on Copart in a report on Friday, May 22nd. Barclays set a $26.00 target price on Copart and gave the stock an "underweight" rating in a research report on Tuesday, July 21st. Zacks Research downgraded shares of Copart from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 28th. Finally, Stephens reiterated an "equal weight" rating and issued a $35.00 price target on shares of Copart in a research report on Thursday. Three 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 assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $41.67.

Copart 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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source