DAVENPORT & Co LLC Sells 60,992 Shares of Copart, Inc. $CPRT

DAVENPORT & Co LLC reduced its holdings in Copart, Inc. (NASDAQ:CPRT) by 48.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,130 shares of the business services provider’s stock after selling 60,992 shares during the period. DAVENPORT & Co LLC’s holdings in Copart were worth $2,511,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in CPRT. Cloud Capital Management LLC bought a new position in shares of Copart in the 3rd quarter valued at about $25,000. Tripletail Wealth Management LLC bought a new stake in Copart during the third quarter worth approximately $27,000. LRI Investments LLC increased its stake in Copart by 125.2% during the third quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock worth $29,000 after acquiring an additional 363 shares during the last quarter. Cornerstone Planning Group LLC raised its position in Copart by 54.0% during the third quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 256 shares during the period. Finally, FNY Investment Advisers LLC purchased a new stake in Copart during the third quarter valued at approximately $36,000. 85.78% of the stock is currently owned by institutional investors.

Copart Price Performance

Shares of NASDAQ CPRT opened at $32.43 on Friday. Copart, Inc. has a 1 year low of $32.20 and a 1 year high of $63.85. The firm has a 50-day simple moving average of $37.40 and a two-hundred day simple moving average of $40.34. The company has a market cap of $31.24 billion, a P/E ratio of 20.27 and a beta of 1.09.

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of the company’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total value of $1,009,753.29. Following 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 9.60% of the stock is owned by company insiders.

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.