Avestar Capital LLC Has $1.09 Million Stake in Copart, Inc. $CPRT

Avestar Capital LLC reduced its position in Copart, Inc. (NASDAQ:CPRT) by 49.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,293 shares of the business services provider’s stock after selling 22,121 shares during the period. Avestar Capital LLC’s holdings in Copart were worth $1,094,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CPRT. Vanguard Group Inc. raised its holdings in Copart by 2.1% during the second quarter. Vanguard Group Inc. now owns 106,408,868 shares of the business services provider’s stock worth $5,221,483,000 after buying an additional 2,144,946 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Copart by 3.3% during the second quarter. Geode Capital Management LLC now owns 20,462,076 shares of the business services provider’s stock worth $999,305,000 after acquiring an additional 656,333 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Copart by 15.9% in the 1st quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider’s stock worth $868,417,000 after acquiring an additional 2,106,656 shares during the last quarter. Norges Bank acquired a new stake in shares of Copart in the 2nd quarter worth about $549,448,000. Finally, Invesco Ltd. lifted its position in Copart by 7.1% in the 2nd quarter. Invesco Ltd. now owns 10,160,298 shares of the business services provider’s stock valued at $498,566,000 after acquiring an additional 670,061 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 24,283 shares of the stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the completion of the transaction, the chief executive officer owned 31,332 shares in the company, valued at $1,403,360.28. This trade represents a 43.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas N. Tryforos sold 228,840 shares of Copart stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $47.54, for a total transaction of $10,879,053.60. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 353,123 shares of company stock worth $15,873,689 in the last ninety days. Insiders own 9.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on CPRT. Hsbc Global Res raised Copart from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 4th. HSBC set a $62.00 price target on Copart and gave the stock a “buy” rating in a report on Thursday, September 4th. JPMorgan Chase & Co. dropped their price objective on Copart from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday, November 24th. Robert W. Baird reduced their target price on shares of Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, November 21st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Copart in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Copart has a consensus rating of “Hold” and a consensus target price of $47.60.

Copart Stock Down 0.2%

Shares of CPRT stock opened at $38.72 on Friday. The firm has a market cap of $37.48 billion, a P/E ratio of 23.61 and a beta of 1.12. The company has a 50 day moving average of $42.37 and a 200-day moving average of $46.24. Copart, Inc. has a 12-month low of $38.61 and a 12-month high of $63.85.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, November 20th. The business services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. Copart had a return on equity of 17.78% and a net margin of 34.24%.The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the business earned $0.37 earnings per share. Copart’s revenue for the quarter was up .7% on a year-over-year basis. As a group, equities analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

Copart 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.