Copart, Inc. (NASDAQ:CPRT) Stock Holdings Increased by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC increased its stake in Copart, Inc. by 39.7% in the first quarter, holding approximately $48.31 million worth of shares after acquiring additional stock.
• Insider activity saw CEO Jeffrey Liaw sell 24,088 shares at about $46.43 per share, decreasing his ownership by 43.31%.
• Analysts have reduced their price targets for Copart, with Robert W. Baird lowering it from $64.00 to $55.00 while maintaining an "outperform" rating.

HighTower Advisors LLC boosted its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 39.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 853,717 shares of the business services provider's stock after purchasing an additional 242,397 shares during the quarter. HighTower Advisors LLC owned about 0.09% of Copart worth $48,312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Copart by 289.6% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 34,322 shares of the business services provider's stock worth $1,970,000 after purchasing an additional 25,512 shares during the last quarter. Sowell Financial Services LLC purchased a new position in shares of Copart in the 1st quarter worth about $604,000. China Universal Asset Management Co. Ltd. raised its position in shares of Copart by 52.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 23,862 shares of the business services provider's stock worth $1,350,000 after purchasing an additional 8,181 shares during the last quarter. Voleon Capital Management LP bought a new position in Copart during the 4th quarter valued at about $1,314,000. Finally, Handelsbanken Fonder AB lifted its stake in Copart by 53.3% during the 1st quarter. Handelsbanken Fonder AB now owns 854,336 shares of the business services provider's stock valued at $48,347,000 after acquiring an additional 297,210 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Price Performance

NASDAQ:CPRT traded up $0.22 during trading hours on Friday, reaching $47.08. The company had a trading volume of 4,688,357 shares, compared to its average volume of 5,882,411. Copart, Inc. has a 1-year low of $45.05 and a 1-year high of $64.38. The firm has a market cap of $45.52 billion, a PE ratio of 30.97 and a beta of 1.04. The business's 50 day moving average price is $47.55 and its 200-day moving average price is $53.88.

Copart (NASDAQ:CPRT - Get Free Report) last issued its earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. Copart had a return on equity of 18.20% and a net margin of 32.21%. The company had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same period in the prior year, the business earned $0.39 EPS. The firm's quarterly revenue was up 7.5% on a year-over-year basis. On average, analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Transactions at Copart

In related news, CEO Jeffrey Liaw sold 24,088 shares of Copart stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total value of $1,118,405.84. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 9.68% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CPRT shares. 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 research report on Thursday, July 17th. JPMorgan Chase & Co. reduced their price target on shares of Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Finally, Stephens started coverage on shares of Copart in a research report on Tuesday, July 8th. They set an "equal weight" rating and a $50.00 price target for the company.

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.