AXQ Capital LP Makes New $824,000 Investment in Copart, Inc. $CPRT

AXQ Capital LP purchased a new stake in Copart, Inc. (NASDAQ:CPRT) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 18,320 shares of the business services provider’s stock, valued at approximately $824,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cloud Capital Management LLC acquired a new position in Copart in the 3rd quarter worth $25,000. Tripletail Wealth Management LLC acquired a new position in shares of Copart during the third quarter worth about $27,000. LRI Investments LLC boosted its position in shares of 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 buying an additional 363 shares during the period. Creekmur Asset Management LLC grew its holdings in shares of Copart by 1,063.0% during the second quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock worth $31,000 after buying an additional 574 shares in the last quarter. Finally, Cornerstone Planning Group LLC raised its position in Copart by 54.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock valued at $31,000 after buying an additional 256 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of the business’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 owned 55,970 shares of the company’s stock, valued at approximately $2,248,314.90. The trade was a 30.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CPRT has been the subject of a number of recent research reports. Barclays reaffirmed an “underweight” rating and set a $32.00 price target (down previously from $33.00) on shares of Copart in a research report on Monday. CJS Securities upgraded shares of Copart to a “strong-buy” rating in a report on Thursday, December 11th. JPMorgan Chase & Co. decreased their target price on shares of Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Robert W. Baird set a $48.00 price target on shares of Copart and gave the stock an “outperform” rating in a research report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.40.

Copart Price Performance

Shares of Copart stock opened at $35.36 on Tuesday. Copart, Inc. has a 1 year low of $33.81 and a 1 year high of $63.85. The company has a market capitalization of $34.23 billion, a price-to-earnings ratio of 22.10 and a beta of 1.08. The business has a fifty day simple moving average of $39.38 and a two-hundred day simple moving average of $42.45.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data 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 business had revenue of $1.12 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 EPS. As a group, equities analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal 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.