Copart, Inc. $CPRT Shares Sold by Cynosure Group LLC

Cynosure Group LLC cut its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 50.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,734 shares of the business services provider’s stock after selling 18,198 shares during the period. Cynosure Group LLC’s holdings in Copart were worth $797,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Stephens Inc. AR raised its stake in Copart by 0.7% during the 2nd quarter. Stephens Inc. AR now owns 30,312 shares of the business services provider’s stock valued at $1,487,000 after acquiring an additional 218 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Copart by 0.8% during the second quarter. Allworth Financial LP now owns 28,978 shares of the business services provider’s stock valued at $1,422,000 after purchasing an additional 228 shares during the period. Blue Trust Inc. raised its stake in shares of Copart by 15.4% during the second quarter. Blue Trust Inc. now owns 1,742 shares of the business services provider’s stock valued at $85,000 after purchasing an additional 232 shares in the last quarter. PDS Planning Inc lifted its holdings in Copart by 4.9% in the third quarter. PDS Planning Inc now owns 5,196 shares of the business services provider’s stock worth $234,000 after purchasing an additional 242 shares during the period. Finally, Unique Wealth LLC grew its position in Copart by 2.3% in the 3rd quarter. Unique Wealth LLC now owns 10,785 shares of the business services provider’s stock valued at $485,000 after buying an additional 245 shares in the last quarter. 85.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CPRT has been the topic of a number of recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Copart in a research report on Wednesday, October 8th. CJS Securities upgraded shares of Copart to a “strong-buy” rating in a research note on Thursday, December 11th. Barclays restated an “underweight” rating and issued a $33.00 target price (up from $32.00) on shares of Copart in a research report on Friday, November 21st. JPMorgan Chase & Co. lowered their price target on Copart from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Monday, November 24th. Finally, Robert W. Baird dropped their price objective on Copart from $55.00 to $52.00 and set an “outperform” rating on the stock in a research note on Friday, November 21st. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Copart currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.60.

Copart Stock Performance

Shares of NASDAQ:CPRT opened at $37.77 on Monday. The stock has a market capitalization of $36.56 billion, a price-to-earnings ratio of 23.03 and a beta of 1.10. Copart, Inc. has a 1-year low of $37.60 and a 1-year high of $63.85. The company has a 50 day moving average price of $40.11 and a 200 day moving average price of $44.43.

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

Insiders Place Their Bets

In related news, CEO Jeffrey Liaw sold 24,283 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total value of $1,087,635.57. Following the completion of the transaction, the chief executive officer owned 31,332 shares of the company’s stock, valued at approximately $1,403,360.28. This trade represents a 43.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Thomas N. Tryforos sold 100,000 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $39.07, for a total value of $3,907,000.00. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 9.60% of the company’s stock.

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.