Third View Private Wealth LLC Makes New $2.04 Million Investment in Copart, Inc. $CPRT

Key Points

• Third View Private Wealth LLC initiated a new position in Copart, buying 52,167 shares in Q4 worth approximately $2.04 million.
• CEO Jeffrey Liaw sold 25,137 shares on Jan 15 for about $1.01 million, cutting his stake by roughly 31% (insiders own 9.6% while institutions hold 85.78% of the stock).
• Copart recently missed quarterly estimates (EPS $0.36 vs. $0.39; revenue $1.12B vs. $1.15B), the stock trades near $33.25, and analysts have a consensus rating of Hold with an average target of $44.40.

Third View Private Wealth LLC purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 52,167 shares of the business services provider's stock, valued at approximately $2,042,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cloud Capital Management LLC acquired a new position in Copart during the 3rd quarter worth approximately $25,000. Lodestone Wealth Management LLC acquired a new position in Copart during the 4th quarter worth approximately $25,000. Tripletail Wealth Management LLC acquired a new position in Copart during the 3rd quarter worth approximately $27,000. LRI Investments LLC grew its holdings in Copart by 125.2% during the 3rd quarter. LRI Investments LLC now owns 653 shares of the business services provider's stock worth $29,000 after acquiring an additional 363 shares in the last quarter. Finally, Cornerstone Planning Group LLC grew its holdings in Copart by 54.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider's stock worth $31,000 after acquiring an additional 256 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company's stock.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 25,137 shares of the business's stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the completion of the sale, the chief executive officer owned 55,970 shares in the company, valued at approximately $2,248,314.90. The trade was a 30.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 9.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CPRT shares. JPMorgan Chase & Co. lowered their price target on shares of Copart from $45.00 to $34.00 and set a "neutral" rating for the company in a report on Monday, February 23rd. Robert W. Baird set a $48.00 price target on shares of Copart and gave the stock an "outperform" rating in a report on Friday, February 20th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Copart in a report on Monday, March 23rd. Barclays reiterated an "underweight" rating and set a $32.00 price target (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Finally, Zacks Research downgraded shares of Copart from a "hold" rating to a "strong sell" rating in a research report on Tuesday, February 24th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $44.40.

Copart Trading Up 1.5%

Shares of NASDAQ:CPRT opened at $33.25 on Tuesday. The company has a market capitalization of $32.03 billion, a PE ratio of 20.78 and a beta of 1.14. Copart, Inc. has a twelve month low of $32.20 and a twelve month high of $63.85. The firm has a 50 day simple moving average of $35.70 and a 200-day simple moving average of $39.25.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings data on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). The company had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.15 billion. Copart had a return on equity of 16.68% and a net margin of 33.76%.The firm's quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.40 EPS. As a group, equities research analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Copart Profile

Copart NASDAQ: CPRT is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart's business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.

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