Clearstead Advisors LLC Reduces Stock Holdings in Copart, Inc. $CPRT

Clearstead Advisors LLC lowered its stake in Copart, Inc. (NASDAQ:CPRT) by 75.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,534 shares of the business services provider’s stock after selling 25,905 shares during the period. Clearstead Advisors LLC’s holdings in Copart were worth $384,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Cloud Capital Management LLC bought a new stake in shares of Copart during the 3rd quarter valued at about $25,000. Tripletail Wealth Management LLC purchased a new stake in Copart in the third quarter worth about $27,000. LRI Investments LLC boosted its position in Copart by 125.2% during the 3rd quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 363 shares in the last quarter. Creekmur Asset Management LLC grew its holdings in shares of Copart by 1,063.0% during the 2nd quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock worth $31,000 after acquiring an additional 574 shares during the period. Finally, Cornerstone Planning Group LLC raised its position in shares of Copart by 54.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock worth $31,000 after acquiring an additional 256 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors.

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 shares were sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 9.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CPRT has been the topic of several research reports. Barclays restated an “underweight” rating and set a $32.00 price target (down from $33.00) on shares of Copart in a research report on Monday. Zacks Research downgraded shares of Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday. CJS Securities upgraded shares of Copart to a “strong-buy” rating in a report on Thursday, December 11th. Robert W. Baird set a $48.00 target price on shares of Copart and gave the company an “outperform” rating in a research note on Friday, February 20th. Finally, JPMorgan Chase & Co. dropped their price target on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $44.40.

Copart Trading Up 2.5%

NASDAQ:CPRT opened at $38.09 on Friday. The company has a market cap of $36.87 billion, a PE ratio of 23.81 and a beta of 1.08. The company has a 50 day simple moving average of $39.18 and a two-hundred day simple moving average of $42.23. Copart, Inc. has a 12 month low of $33.81 and a 12 month high of $63.85.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Copart had a return on equity of 16.68% and a net margin of 33.76%.The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the business earned $0.40 earnings per share. Research analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

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.