Invst LLC Takes Position in Copart, Inc. $CPRT

Key Points

• Invst LLC has acquired a new stake of 37,581 shares in Copart, Inc., valued at approximately $2.1 million during the 1st quarter.
• Copart reported $0.41 EPS for the recent quarter, exceeding analysts' expectations of $0.37, with revenues of $1.13 billion.
• CEO Jeffrey Liaw sold 24,088 shares of Copart stock, marking a 43.31% decrease in his position after the sale.

Invst LLC bought a new stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 37,581 shares of the business services provider's stock, valued at approximately $2,127,000.

Several other hedge funds have also recently made changes to their positions in the business. Strs Ohio purchased a new stake in shares of Copart during the 1st quarter valued at about $12,594,000. Jacobi Capital Management LLC raised its position in Copart by 9.4% in the 1st quarter. Jacobi Capital Management LLC now owns 5,414 shares of the business services provider's stock worth $306,000 after purchasing an additional 467 shares during the period. Advisors Capital Management LLC raised its position in Copart by 5.9% in the 1st quarter. Advisors Capital Management LLC now owns 7,490 shares of the business services provider's stock worth $424,000 after purchasing an additional 418 shares during the period. WBI Investments LLC purchased a new stake in Copart in the 1st quarter worth about $714,000. Finally, Geneos Wealth Management Inc. raised its position in Copart by 365.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider's stock worth $63,000 after purchasing an additional 878 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Price Performance

Shares of CPRT stock opened at $48.90 on Friday. The company has a market capitalization of $47.28 billion, a P/E ratio of 30.56 and a beta of 1.03. The company's 50-day simple moving average is $47.41 and its two-hundred day simple moving average is $52.56. Copart, Inc. has a one year low of $45.05 and a one year high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last issued its earnings results on Thursday, September 4th. The business services provider reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.04. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.14 billion. Copart had a net margin of 33.41% and a return on equity of 18.17%. The company's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 EPS. On average, research analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total value of $1,118,405.84. Following the transaction, the chief executive officer directly owned 31,527 shares in the company, valued at $1,463,798.61. This represents a 43.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.68% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CPRT has been the topic of a number of recent analyst reports. Robert W. Baird reduced their price objective on shares of Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday, July 17th. JPMorgan Chase & Co. reduced 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. HSBC set a $62.00 price objective on shares of Copart and gave the stock a "buy" rating in a research report on Thursday, September 4th. Stephens reduced their price objective on shares of Copart from $50.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Friday, September 5th. Finally, Hsbc Global Res raised shares of Copart from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Copart presently has an average rating of "Moderate Buy" and an average price target of $54.50.

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.

Want to see what other hedge funds are holding CPRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Copart, Inc. (NASDAQ:CPRT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.