Galvin Gaustad & Stein LLC Has $17.12 Million Position in Copart, Inc. (NASDAQ:CPRT)

Key Points

• Galvin Gaustad & Stein LLC has reduced its stake in Copart, Inc. by 2.7%, holding 302,513 shares valued at approximately $17.12 million, which constitutes about 1.5% of its investment portfolio.
• Copart's latest quarterly earnings report indicated an EPS of $0.42, matching analysts' expectations, with revenue of $1.21 billion, slightly below estimates.
• CEO Jeffrey Liaw sold 24,088 shares at an average price of $46.43, resulting in a 43.31% decrease in his ownership of the stock.

Galvin Gaustad & Stein LLC lowered its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 2.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 302,513 shares of the business services provider's stock after selling 8,365 shares during the quarter. Copart accounts for about 1.5% of Galvin Gaustad & Stein LLC's investment portfolio, making the stock its 25th biggest holding. Galvin Gaustad & Stein LLC's holdings in Copart were worth $17,119,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Bellwether Advisors LLC boosted its holdings in shares of Copart by 2.1% in the first quarter. Bellwether Advisors LLC now owns 35,625 shares of the business services provider's stock valued at $2,016,000 after buying an additional 736 shares during the period. LPL Financial LLC boosted its holdings in shares of Copart by 18.6% in the first quarter. LPL Financial LLC now owns 701,132 shares of the business services provider's stock valued at $39,677,000 after buying an additional 109,734 shares during the period. Second Half Financial Partners LLC boosted its holdings in shares of Copart by 27.8% in the first quarter. Second Half Financial Partners LLC now owns 9,902 shares of the business services provider's stock valued at $560,000 after buying an additional 2,154 shares during the period. Texas Yale Capital Corp. boosted its holdings in shares of Copart by 13.1% in the first quarter. Texas Yale Capital Corp. now owns 23,490 shares of the business services provider's stock valued at $1,329,000 after buying an additional 2,720 shares during the period. Finally, Empirical Finance LLC boosted its holdings in shares of Copart by 2.2% in the first quarter. Empirical Finance LLC now owns 29,126 shares of the business services provider's stock valued at $1,648,000 after buying an additional 631 shares during the period. Institutional investors and hedge funds own 85.78% of the company's stock.

Copart Stock Up 0.9%

Shares of CPRT stock opened at $46.69 on Monday. The company's fifty day simple moving average is $49.89 and its 200-day simple moving average is $54.93. The firm has a market cap of $45.15 billion, a PE ratio of 30.72 and a beta of 1.07. Copart, Inc. has a 12 month low of $45.52 and a 12 month high of $64.38.

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

Insider Activity at Copart

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of the company's stock in a transaction on Tuesday, July 15th. The shares were 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 of the company's stock, valued at approximately $1,463,798.61. This represents a 43.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 9.68% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CPRT has been the subject of several research analyst reports. Robert W. Baird reduced their price target on shares of Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a report on Thursday, July 17th. JPMorgan Chase & Co. cut their price objective on shares of Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Finally, Stephens initiated coverage on shares of Copart in a research report on Tuesday, July 8th. They issued an "equal weight" rating and a $50.00 price objective on the stock.

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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