WBI Investments LLC Invests $714,000 in Copart, Inc. $CPRT

Key Points

• WBI Investments LLC has acquired a new stake in Copart, Inc., purchasing 12,617 shares worth approximately $714,000, indicating increased institutional interest in the company.
• Copart's CEO, Jeffrey Liaw, sold 24,088 shares of stock on July 15th for over $1.1 million, reducing his holdings by 43.31%.
• Copart reported a quarterly earnings per share (EPS) of $0.41, exceeding analyst expectations of $0.37, and showed a 2.9% year-over-year revenue increase to $1.13 billion.

WBI Investments LLC purchased a new stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,617 shares of the business services provider's stock, valued at approximately $714,000.

Other large investors have also recently bought and sold shares of the company. Cloud Capital Management LLC acquired a new position in Copart during the first quarter valued at approximately $26,000. Sunbelt Securities Inc. acquired a new position in Copart during the fourth quarter valued at approximately $31,000. Accent Capital Management LLC acquired a new position in Copart during the first quarter valued at approximately $36,000. Financial Network Wealth Advisors LLC boosted its position in Copart by 152.6% during the first quarter. Financial Network Wealth Advisors LLC now owns 783 shares of the business services provider's stock valued at $44,000 after purchasing an additional 473 shares during the last quarter. Finally, SouthState Corp acquired a new position in Copart during the first quarter valued at approximately $45,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of the firm's 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 transaction, the chief executive officer owned 31,527 shares in the company, valued at $1,463,798.61. This trade represents a 43.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.68% of the stock is currently owned by company insiders.

Copart Trading Up 0.9%

Shares of NASDAQ CPRT opened at $48.52 on Thursday. The firm has a market cap of $46.92 billion, a P/E ratio of 30.33 and a beta of 1.03. Copart, Inc. has a 1-year low of $45.05 and a 1-year high of $64.38. The business's 50 day moving average is $47.42 and its 200-day moving average is $52.61.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings data 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. Copart had a return on equity of 18.17% and a net margin of 33.41%.The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the company earned $0.33 EPS. The company's revenue was up 2.9% on a year-over-year basis. Analysts forecast that Copart, Inc. will post 1.57 EPS for the current year.

Analyst Ratings Changes

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

Copart Company 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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