HighTower Advisors LLC Has $33.14 Million Holdings in Copart, Inc. $CPRT

HighTower Advisors LLC decreased its holdings in Copart, Inc. (NASDAQ:CPRT) by 21.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 736,900 shares of the business services provider’s stock after selling 205,816 shares during the quarter. HighTower Advisors LLC owned 0.08% of Copart worth $33,138,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CPRT. Brighton Jones LLC boosted its stake in shares of Copart by 92.1% in the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock valued at $816,000 after buying an additional 6,817 shares during the period. Geneos Wealth Management Inc. raised its holdings in Copart by 365.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock valued at $63,000 after acquiring an additional 878 shares in the last quarter. Koshinski Asset Management Inc. raised its holdings in Copart by 12.8% in the 2nd quarter. Koshinski Asset Management Inc. now owns 5,562 shares of the business services provider’s stock valued at $273,000 after acquiring an additional 629 shares in the last quarter. Stephens Inc. AR lifted its position in shares of 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 during the period. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Copart by 18.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 411,055 shares of the business services provider’s stock worth $20,062,000 after purchasing an additional 64,364 shares in the last quarter. 85.78% of the stock is owned by institutional investors.

Copart Price Performance

CPRT stock opened at $37.52 on Wednesday. The company has a 50 day simple moving average of $39.54 and a 200 day simple moving average of $42.72. The stock has a market cap of $36.32 billion, a price-to-earnings ratio of 22.88 and a beta of 1.08. Copart, Inc. has a 1 year low of $36.52 and a 1 year high of $63.85.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, November 20th. The business services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The firm 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 company’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter last year, the business posted $0.37 earnings per share. On average, equities research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Buying and Selling at Copart

In other Copart news, Director Thomas N. Tryforos sold 100,000 shares of the company’s 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey Liaw sold 25,137 shares of the stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $40.17, for a total value of $1,009,753.29. Following the completion of the transaction, the chief executive officer 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 SEC filing for this sale provides additional information. Company insiders own 9.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on CPRT shares. Robert W. Baird dropped their price target on Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, November 21st. CJS Securities raised shares of Copart to a “strong-buy” rating in a report 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. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Copart presently has an average rating of “Moderate Buy” and an average price target of $47.60.

Copart 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.