Copart, Inc. $CPRT Shares Sold by 1832 Asset Management L.P.

1832 Asset Management L.P. lowered its position in Copart, Inc. (NASDAQ:CPRT) by 50.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,529 shares of the business services provider’s stock after selling 38,426 shares during the quarter. 1832 Asset Management L.P.’s holdings in Copart were worth $1,842,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CPRT. Atticus Wealth Management LLC acquired a new position in shares of Copart in the second quarter valued at approximately $31,000. Creekmur Asset Management LLC increased its stake in Copart by 1,063.0% in the 2nd quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock valued at $31,000 after buying an additional 574 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of Copart during the second quarter worth about $31,000. Bank of Jackson Hole Trust boosted its holdings in Copart by 83.8% in the 2nd quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 335 shares in the last quarter. Finally, GFG Capital LLC acquired a new position in Copart during the 2nd quarter worth approximately $37,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Copart

In related news, Director Thomas N. Tryforos sold 228,840 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $47.54, for a total value of $10,879,053.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey Liaw sold 24,283 shares of the stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total value of $1,087,635.57. Following 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 353,123 shares of company stock valued at $15,873,689 over the last quarter. 9.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on CPRT. HSBC set a $62.00 target price on Copart and gave the company a “buy” rating in a report on Thursday, September 4th. Barclays reaffirmed an “underweight” rating and issued a $33.00 target price (up from $32.00) on shares of Copart in a report on Friday, November 21st. Robert W. Baird reduced their price target on shares of Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a research report on Friday, November 21st. Hsbc Global Res upgraded Copart from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 4th. Finally, Stephens lowered their target price on Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $47.60.

Copart Stock Down 0.2%

CPRT 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 business’s fifty day simple moving average is $42.37 and its 200 day simple moving average is $46.24. Copart, Inc. has a 52 week low of $38.61 and a 52 week high of $63.85.

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