Focus Partners Wealth Sells 2,168 Shares of Copart, Inc. $CPRT

Focus Partners Wealth reduced its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 2.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 85,672 shares of the business services provider’s stock after selling 2,168 shares during the quarter. Focus Partners Wealth’s holdings in Copart were worth $4,848,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CPRT. Cloud Capital Management LLC bought a new stake in Copart during the first quarter worth approximately $26,000. Sunbelt Securities Inc. bought a new position in shares of Copart during the fourth quarter valued at approximately $31,000. Accent Capital Management LLC bought a new position in shares of Copart during the first quarter valued at approximately $36,000. Financial Network Wealth Advisors LLC grew its stake in shares of 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 buying an additional 473 shares during the last quarter. Finally, SouthState Corp bought a new position in shares of Copart during the first quarter valued at approximately $45,000. 85.78% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of the stock in a transaction dated 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 sale, the chief executive officer directly owned 31,527 shares of the company’s stock, valued at approximately $1,463,798.61. This trade represents a 43.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 9.68% of the company’s stock.

Copart Price Performance

NASDAQ CPRT opened at $48.40 on Monday. The stock’s fifty day moving average price is $47.39 and its 200 day moving average price is $52.46. Copart, Inc. has a 1 year low of $45.05 and a 1 year high of $64.38. The company has a market cap of $46.80 billion, a price-to-earnings ratio of 30.25 and a beta of 1.03.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.14 billion. Copart had a return on equity of 18.17% and a net margin of 33.41%.The firm’s revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 EPS. Research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on CPRT shares. HSBC set a $62.00 price target on Copart and gave the company a “buy” rating in a report on Thursday, September 4th. Hsbc Global Res upgraded Copart from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 4th. JPMorgan Chase & Co. lowered their price target on Copart from $60.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, May 23rd. Robert W. Baird lowered their price target on Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, July 17th. Finally, Stephens lowered their price target on Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $54.50.

About Copart

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.