Copart, Inc. $CPRT Shares Purchased by AlphaQuest LLC

AlphaQuest LLC boosted its position in shares of Copart, Inc. (NASDAQ:CPRT) by 300.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 103,526 shares of the business services provider’s stock after acquiring an additional 77,697 shares during the quarter. Copart comprises about 0.3% of AlphaQuest LLC’s portfolio, making the stock its 18th largest position. AlphaQuest LLC’s holdings in Copart were worth $4,656,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. SYM FINANCIAL Corp lifted its holdings in shares of Copart by 67.8% during the third quarter. SYM FINANCIAL Corp now owns 17,703 shares of the business services provider’s stock worth $796,000 after purchasing an additional 7,150 shares during the period. Foundations Investment Advisors LLC purchased a new position in Copart during the 3rd quarter worth approximately $432,000. Cloud Capital Management LLC acquired a new stake in Copart during the 3rd quarter valued at approximately $25,000. Hollencrest Capital Management lifted its stake in Copart by 13.2% during the 3rd quarter. Hollencrest Capital Management now owns 2,088 shares of the business services provider’s stock valued at $94,000 after acquiring an additional 244 shares during the period. Finally, AE Wealth Management LLC boosted its holdings in shares of Copart by 30.0% in the 3rd quarter. AE Wealth Management LLC now owns 78,636 shares of the business services provider’s stock valued at $3,536,000 after acquiring an additional 18,146 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Stock Down 0.8%

CPRT stock opened at $40.28 on Friday. Copart, Inc. has a 52 week low of $37.41 and a 52 week high of $63.85. The firm has a 50-day simple moving average of $39.49 and a 200-day simple moving average of $43.40. The stock has a market capitalization of $38.99 billion, a P/E ratio of 24.56 and a beta of 1.10.

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

Insider Buying and Selling at Copart

In other Copart news, Director Thomas N. Tryforos sold 100,000 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $39.07, for a total value of $3,907,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey Liaw sold 25,137 shares of Copart stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the sale, the chief executive officer directly owned 55,970 shares in the company, valued at approximately $2,248,314.90. This trade represents a 30.99% decrease in their position. The SEC filing for this sale provides additional information. 9.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CPRT. Weiss Ratings reissued a “hold (c)” rating on shares of Copart in a report on Wednesday, October 8th. Robert W. Baird cut their price target on Copart from $55.00 to $52.00 and set an “outperform” rating on the stock in a research report on Friday, November 21st. JPMorgan Chase & Co. decreased their price objective on Copart from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Monday, November 24th. Barclays restated an “underweight” rating and issued a $33.00 target price (up previously from $32.00) on shares of Copart in a research note on Friday, November 21st. Finally, CJS Securities upgraded Copart to a “strong-buy” rating in a research report on Thursday, December 11th. 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, Copart has an average rating of “Moderate Buy” and a consensus target price of $47.60.

About Copart

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.