Fieldview Capital Management LLC Increases Position in Copart, Inc. $CPRT

Fieldview Capital Management LLC lifted its stake in Copart, Inc. (NASDAQ:CPRT) by 1,118.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,669 shares of the business services provider’s stock after acquiring an additional 53,853 shares during the period. Fieldview Capital Management LLC’s holdings in Copart were worth $2,638,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Allworth Financial LP grew its stake in Copart by 0.8% in 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 last quarter. PDS Planning Inc raised 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 in the last quarter. Hollencrest Capital Management lifted its position in shares of Copart by 13.2% during the third quarter. Hollencrest Capital Management now owns 2,088 shares of the business services provider’s stock valued at $94,000 after buying an additional 244 shares during the last quarter. Unique Wealth LLC lifted its position in shares of Copart by 2.3% during the third 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 during the last quarter. Finally, Tobam boosted its holdings in shares of Copart by 22.9% in the 2nd quarter. Tobam now owns 1,340 shares of the business services provider’s stock valued at $66,000 after buying an additional 250 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CPRT has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, February 23rd. Zacks Research cut shares of Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 24th. CJS Securities upgraded shares of Copart to a “strong-buy” rating in a research note on Thursday, December 11th. Barclays reaffirmed an “underweight” rating and issued a $32.00 price target (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Finally, Robert W. Baird set a $48.00 price target on Copart and gave the stock an “outperform” rating in a research report on Friday, February 20th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $44.40.

Copart Stock Performance

Shares of CPRT stock opened at $37.72 on Monday. Copart, Inc. has a fifty-two week low of $33.81 and a fifty-two week high of $63.85. The firm has a market capitalization of $36.34 billion, a price-to-earnings ratio of 23.58 and a beta of 1.09. The stock’s 50-day simple moving average is $39.07 and its 200-day simple moving average is $41.83.

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

Insider Activity

In other news, CEO Jeffrey Liaw sold 25,137 shares of Copart stock in a transaction on 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 directly owned 55,970 shares in the company, valued at approximately $2,248,314.90. The trade was a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate 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.