Captrust Financial Advisors Cuts Stake in Copart, Inc. $CPRT

Captrust Financial Advisors reduced its position in Copart, Inc. (NASDAQ:CPRT) by 0.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,067,037 shares of the business services provider’s stock after selling 17,548 shares during the quarter. Captrust Financial Advisors owned 0.21% of Copart worth $92,955,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of Copart by 92.1% in the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock valued at $816,000 after purchasing an additional 6,817 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Copart by 365.8% during the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock valued at $63,000 after purchasing an additional 878 shares in the last quarter. Empower Advisory Group LLC increased its holdings in Copart by 10.4% during the second quarter. Empower Advisory Group LLC now owns 5,256 shares of the business services provider’s stock valued at $258,000 after buying an additional 496 shares during the period. Meridian Wealth Management LLC increased its holdings in Copart by 25.3% during the second quarter. Meridian Wealth Management LLC now owns 5,689 shares of the business services provider’s stock valued at $279,000 after buying an additional 1,150 shares during the period. Finally, SG Americas Securities LLC raised its stake in Copart by 3.6% in the second quarter. SG Americas Securities LLC now owns 52,390 shares of the business services provider’s stock worth $2,571,000 after buying an additional 1,843 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Copart

In related news, CEO Jeffrey Liaw sold 25,137 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer directly owned 55,970 shares in the company, valued at $2,248,314.90. The trade was a 30.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 9.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CPRT has been the topic of several recent research reports. Barclays reaffirmed an “underweight” rating and set a $32.00 target price (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. JPMorgan Chase & Co. reduced 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 cut Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 24th. Robert W. Baird set a $48.00 price objective on Copart and gave the company an “outperform” rating in a research report on Friday, February 20th. Finally, CJS Securities upgraded Copart to a “strong-buy” rating in a research note on Thursday, December 11th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Copart currently has an average rating of “Hold” and an average price target of $44.40.

Copart Stock Up 0.5%

NASDAQ CPRT opened at $34.05 on Wednesday. The firm has a market cap of $32.80 billion, a PE ratio of 21.28 and a beta of 1.09. The company has a 50 day moving average price of $38.52 and a 200 day moving average price of $41.17. Copart, Inc. has a 52 week low of $33.53 and a 52 week high of $63.85.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.15 billion. Copart had a net margin of 33.76% and a return on equity of 16.68%. Copart’s 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. On average, equities research 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.