Belpointe Asset Management LLC Invests $54,000 in Copart, Inc. (NASDAQ:CPRT)

Belpointe Asset Management LLC acquired a new position in shares of Copart, Inc. (NASDAQ:CPRT – Get Rating) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 887 shares of the business services provider’s stock, valued at approximately $54,000.

Several other institutional investors and hedge funds also recently modified their holdings of CPRT. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Copart by 1,212.2% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,110 shares of the business services provider’s stock worth $390,000 after buying an additional 2,873 shares during the period. Panagora Asset Management Inc. boosted its position in Copart by 14.6% during the first quarter. Panagora Asset Management Inc. now owns 8,456 shares of the business services provider’s stock valued at $1,061,000 after purchasing an additional 1,079 shares during the last quarter. Vontobel Holding Ltd. boosted its position in Copart by 52.1% during the first quarter. Vontobel Holding Ltd. now owns 10,823 shares of the business services provider’s stock valued at $1,380,000 after purchasing an additional 3,707 shares during the last quarter. National Pension Service boosted its position in Copart by 5.0% during the first quarter. National Pension Service now owns 286,903 shares of the business services provider’s stock valued at $35,998,000 after purchasing an additional 13,666 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Copart by 1.2% during the first quarter. Vanguard Group Inc. now owns 22,968,882 shares of the business services provider’s stock valued at $2,881,905,000 after purchasing an additional 270,867 shares during the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on CPRT. StockNews.com began coverage on Copart in a research report on Thursday, May 18th. They set a “buy” rating for the company. Northcoast Research cut Copart from a “buy” rating to a “neutral” rating in a research report on Monday, May 1st. Stephens reissued an “overweight” rating and set a $78.00 price target on shares of Copart in a research report on Tuesday, February 21st. Robert W. Baird increased their price target on Copart from $78.00 to $90.00 in a research report on Thursday, May 18th. Finally, Guggenheim increased their price target on Copart from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, February 22nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.33.

Copart Stock Up 1.0 %

NASDAQ:CPRT opened at $89.16 on Tuesday. The stock’s 50 day moving average price is $76.81 and its two-hundred day moving average price is $69.04. The firm has a market capitalization of $42.49 billion, a price-to-earnings ratio of 37.31 and a beta of 1.23. Copart, Inc. has a 12-month low of $51.10 and a 12-month high of $89.79.

Copart (NASDAQ:CPRT – Get Rating) last released its quarterly earnings data on Wednesday, May 17th. The business services provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.08. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Copart had a return on equity of 22.80% and a net margin of 30.72%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.58 earnings per share. Equities research analysts expect that Copart, Inc. will post 2.34 EPS for the current year.

Insider Transactions at Copart

In other news, Director Matt Blunt sold 30,000 shares of the stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $69.36, for a total transaction of $2,080,800.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 11.19% of the stock is owned by corporate insiders.

Copart Company Profile

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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.