NewEdge Advisors LLC Has $1.67 Million Holdings in Copart, Inc. $CPRT

Key Points

• NewEdge Advisors LLC increased its holdings in Copart, Inc. by 25.2% in the first quarter, now owning 29,436 shares valued at approximately $1.67 million.
• Copart's CEO, Jeffrey Liaw, sold 24,088 shares valued at over $1.1 million, reducing his ownership by 43.31%.
• Copart reported $0.41 EPS for the quarter, exceeding analysts' expectations, and had a revenue of $1.13 billion, reflecting a 2.9% increase year-over-year.

NewEdge Advisors LLC grew its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 25.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,436 shares of the business services provider's stock after purchasing an additional 5,918 shares during the period. NewEdge Advisors LLC's holdings in Copart were worth $1,666,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Cloud Capital Management LLC bought a new stake in shares of Copart during the 1st quarter worth about $26,000. Sunbelt Securities Inc. bought a new stake in shares of Copart during the 4th quarter worth about $31,000. Accent Capital Management LLC bought a new stake in shares of Copart during the 1st quarter worth about $36,000. Financial Network Wealth Advisors LLC boosted its stake in shares of Copart by 152.6% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 783 shares of the business services provider's stock worth $44,000 after acquiring an additional 473 shares in the last quarter. Finally, SouthState Corp bought a new stake in shares of Copart during the 1st quarter worth about $45,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 24,088 shares of Copart stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the completion of the sale, the chief executive officer directly owned 31,527 shares of the company's stock, valued at $1,463,798.61. The trade was a 43.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 9.68% of the stock is currently owned by company insiders.

Copart Stock Performance

Shares of CPRT opened at $48.40 on Friday. The stock has a fifty day moving average price of $47.39 and a two-hundred day moving average price of $52.50. Copart, Inc. has a 52-week low of $45.05 and a 52-week high of $64.38. The company has a market cap of $46.80 billion, a price-to-earnings ratio of 30.25 and a beta of 1.03.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.14 billion. Copart had a return on equity of 18.17% and a net margin of 33.41%.The business's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS. As a group, research analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Stephens decreased their price target on Copart from $50.00 to $46.00 and set an "equal weight" rating for the company in a research note on Friday, September 5th. Hsbc Global Res upgraded Copart from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 4th. Robert W. Baird lowered their target price on Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a report on Thursday, July 17th. HSBC set a $62.00 target price on Copart and gave the company a "buy" rating in a report on Thursday, September 4th. Finally, JPMorgan Chase & Co. lowered their target price on Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Copart has a consensus rating of "Moderate Buy" and an average target price of $54.50.

About Copart

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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