Pandora Wealth Inc. Buys New Holdings in Copart, Inc. (NASDAQ:CPRT)

Key Points

• Pandora Wealth Inc. acquired a new stake in Copart, Inc., buying 12,636 shares valued at approximately $715,000 in the first quarter, as detailed in their recent SEC filing.
• Copart reported a quarterly revenue of $1.21 billion, slightly below analysts' expectations, but achieved earnings of $0.42 per share, matching consensus estimates.
• Several analysts have revised their price targets for Copart, with JPMorgan Chase & Co. lowering their target from $60 to $55 while still maintaining a "neutral" rating.

Pandora Wealth Inc. bought a new stake in Copart, Inc. (NASDAQ:CPRT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,636 shares of the business services provider's stock, valued at approximately $715,000.

A number of other large investors have also modified their holdings of the company. Benjamin Edwards Inc. raised its stake in Copart by 4.7% during the first quarter. Benjamin Edwards Inc. now owns 47,534 shares of the business services provider's stock worth $2,690,000 after acquiring an additional 2,139 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Copart by 15.9% during the first quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider's stock worth $868,417,000 after acquiring an additional 2,106,656 shares in the last quarter. Cynosure Group LLC raised its stake in Copart by 19.9% during the first quarter. Cynosure Group LLC now owns 6,763 shares of the business services provider's stock worth $383,000 after acquiring an additional 1,122 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in Copart during the first quarter worth $194,000. Finally, Townsquare Capital LLC raised its stake in Copart by 1.3% during the first quarter. Townsquare Capital LLC now owns 206,548 shares of the business services provider's stock worth $11,689,000 after acquiring an additional 2,600 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Stock Performance

Shares of CPRT stock opened at $46.19 on Friday. The stock's fifty day moving average is $47.88 and its 200-day moving average is $54.24. The stock has a market capitalization of $44.66 billion, a PE ratio of 30.39 and a beta of 1.04. Copart, Inc. has a 52 week low of $45.05 and a 52 week high of $64.38.

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

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Stephens assumed coverage on Copart in a research note on Tuesday, July 8th. They set an "equal weight" rating and a $50.00 price objective for the company. JPMorgan Chase & Co. decreased 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. Finally, Robert W. Baird decreased 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.

Insider Buying and Selling

In related news, CEO Jeffrey Liaw sold 24,088 shares of Copart stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 31,527 shares in the company, valued at $1,463,798.61. This trade represents a 43.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.68% of the stock is currently owned by insiders.

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.

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