Copart, Inc. (NASDAQ:CPRT) Shares Purchased by Nvwm LLC

Key Points

• Nvwm LLC increased its stake in Copart, Inc. by 5,311.7% in Q1, now holding 27,870 shares valued at approximately $1.58 million.
• Copart's quarterly earnings reported earnings per share of $0.42, matching analysts' expectations, though revenue fell slightly short at $1.21 billion.
• Institutional investors and hedge funds own 85.78% of Copart's stock, with significant recent investments from various hedge funds, indicating strong institutional interest.

Nvwm LLC increased its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 5,311.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,870 shares of the business services provider's stock after purchasing an additional 27,355 shares during the quarter. Nvwm LLC's holdings in Copart were worth $1,577,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cloud Capital Management LLC acquired a new stake in Copart during the 1st quarter worth approximately $26,000. Sunbelt Securities Inc. acquired a new stake in Copart during the 4th quarter worth approximately $31,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Copart during the 4th quarter worth approximately $45,000. Versant Capital Management Inc increased its position in Copart by 1,567.9% during the 1st quarter. Versant Capital Management Inc now owns 884 shares of the business services provider's stock worth $50,000 after purchasing an additional 831 shares in the last quarter. Finally, Cornerstone Planning Group LLC boosted its holdings in Copart by 51.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 829 shares of the business services provider's stock worth $51,000 after acquiring an additional 281 shares during the period. Institutional investors and hedge funds own 85.78% of the company's stock.

Insider Activity

In related news, CEO Jeffrey Liaw sold 24,088 shares of the company's stock in a transaction that occurred 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.68% of the company's stock.

Copart Price Performance

Shares of CPRT stock traded up $0.05 on Wednesday, hitting $46.50. 1,718,944 shares of the stock traded hands, compared to its average volume of 5,668,457. The company has a market capitalization of $44.96 billion, a PE ratio of 30.60 and a beta of 1.07. Copart, Inc. has a 1-year low of $45.52 and a 1-year high of $64.38. The company's fifty day moving average is $49.24 and its 200 day moving average is $54.80.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly 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. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.23 billion. Copart had a return on equity of 18.20% and a net margin of 32.21%. The business's revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.39 EPS. As a group, equities research analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

Analyst Ratings Changes

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

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.