Envestnet Asset Management Inc. Has $142.67 Million Stock Position in Copart, Inc. $CPRT

Envestnet Asset Management Inc. increased its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 0.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,172,552 shares of the business services provider’s stock after purchasing an additional 22,965 shares during the period. Envestnet Asset Management Inc. owned approximately 0.33% of Copart worth $142,670,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Stephens Inc. AR boosted its holdings in Copart by 0.7% during the second quarter. Stephens Inc. AR now owns 30,312 shares of the business services provider’s stock worth $1,487,000 after buying an additional 218 shares during the last quarter. Allworth Financial LP raised its position in shares of Copart by 0.8% in the 2nd quarter. Allworth Financial LP now owns 28,978 shares of the business services provider’s stock valued at $1,422,000 after acquiring an additional 228 shares during the period. Blue Trust Inc. boosted its stake in Copart by 15.4% during the 2nd quarter. Blue Trust Inc. now owns 1,742 shares of the business services provider’s stock worth $85,000 after acquiring an additional 232 shares during the last quarter. PDS Planning Inc grew its holdings in Copart by 4.9% during the third quarter. PDS Planning Inc now owns 5,196 shares of the business services provider’s stock valued at $234,000 after purchasing an additional 242 shares during the period. Finally, Hollencrest Capital Management increased its stake in Copart by 13.2% in the third quarter. Hollencrest Capital Management now owns 2,088 shares of the business services provider’s stock valued at $94,000 after purchasing an additional 244 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Insider Activity

In other news, CEO Jeffrey Liaw sold 25,137 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 55,970 shares of the company’s stock, valued at $2,248,314.90. This represents a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas N. Tryforos sold 100,000 shares of Copart stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total value of $3,907,000.00. The SEC filing for this sale provides additional information. 9.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

Copart Stock Up 1.2%

Shares of NASDAQ:CPRT opened at $40.36 on Friday. The firm has a market cap of $39.07 billion, a price-to-earnings ratio of 24.61 and a beta of 1.08. Copart, Inc. has a 12 month low of $37.41 and a 12 month high of $63.85. The company’s fifty day simple moving average is $39.58 and its 200 day simple moving average is $43.14.

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

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.