W.G. Shaheen & Associates DBA Whitney & Co Purchases Shares of 244,513 Copart, Inc. $CPRT

W.G. Shaheen & Associates DBA Whitney & Co purchased a new stake in Copart, Inc. (NASDAQ:CPRT - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 244,513 shares of the business services provider's stock, valued at approximately $9,573,000.

Several other hedge funds also recently added to or reduced their stakes in CPRT. Cloud Capital Management LLC purchased a new position in shares of Copart during the third quarter worth approximately $25,000. Tripletail Wealth Management LLC purchased a new position in shares of Copart during the third quarter worth approximately $27,000. Lodestone Wealth Management LLC purchased a new position in shares of Copart during the fourth quarter worth approximately $25,000. LRI Investments LLC grew its position in shares of Copart by 125.2% during the third quarter. LRI Investments LLC now owns 653 shares of the business services provider's stock worth $29,000 after acquiring an additional 363 shares during the last quarter. Finally, Cornerstone Planning Group LLC grew its position in shares of Copart by 54.0% during the third 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 during the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CPRT shares. Robert W. Baird set a $48.00 target price on shares of Copart and gave the stock an "outperform" rating in a research report on Friday, February 20th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Copart in a report on Monday, March 23rd. JPMorgan Chase & Co. decreased their price target on Copart from $45.00 to $34.00 and set a "neutral" rating for the company in a report on Monday, February 23rd. Zacks Research raised Copart from a "strong sell" rating to a "hold" rating in a report on Monday. Finally, Barclays reaffirmed 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. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Copart currently has an average rating of "Moderate Buy" and an average price target of $44.40.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the firm's stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total value of $869,747.34. Following the completion of the sale, the chief executive officer owned 79,532 shares of the company's stock, valued at approximately $2,638,871.76. This trade represents a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 9.60% of the company's stock.

Copart Stock Performance

Copart stock opened at $33.33 on Thursday. Copart, Inc. has a one year low of $32.20 and a one year high of $63.85. The business has a fifty day moving average of $34.40 and a two-hundred day moving average of $38.35. The company has a market cap of $32.11 billion, a P/E ratio of 20.83 and a beta of 1.14.

Copart (NASDAQ:CPRT - Get Free Report) last released its earnings results on Thursday, February 19th. The business services provider reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.03). Copart had a net margin of 33.76% and a return on equity of 16.68%. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the business posted $0.40 EPS. Copart's revenue was down 3.6% compared to the same quarter last year. Sell-side analysts predict that Copart, Inc. will post 1.58 EPS for the current year.

Copart Company 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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