Copart, Inc. $CPRT Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lowered its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 3.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 762,101 shares of the business services provider’s stock after selling 23,462 shares during the quarter. CIBC Private Wealth Group LLC owned approximately 0.08% of Copart worth $34,272,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Cloud Capital Management LLC acquired a new stake in Copart in the third quarter worth $25,000. Tripletail Wealth Management LLC bought a new stake in Copart in the third quarter valued at $27,000. LRI Investments LLC boosted its holdings 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 valued at $29,000 after acquiring an additional 363 shares during the period. Cornerstone Planning Group LLC grew its position in shares of Copart by 54.0% during the third 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 during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. grew its position in shares of Copart by 173.4% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 864 shares of the business services provider’s stock worth $39,000 after acquiring an additional 548 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CPRT shares. CJS Securities raised shares of Copart to a “strong-buy” rating in a report on Thursday, December 11th. Barclays restated an “underweight” rating and issued a $32.00 target price (down from $33.00) on shares of Copart 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. Robert W. Baird set a $48.00 price target on Copart and gave the company an “outperform” rating in a report on Friday, February 20th. Finally, JPMorgan Chase & Co. reduced their price objective on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research report on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $44.40.

Copart Stock Down 1.5%

Shares of NASDAQ CPRT opened at $32.52 on Friday. The stock has a market cap of $31.33 billion, a P/E ratio of 20.33 and a beta of 1.09. The firm’s 50-day simple moving average is $38.29 and its 200 day simple moving average is $41.05. Copart, Inc. has a fifty-two week low of $32.20 and a fifty-two 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). The company 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 quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 EPS. On average, sell-side analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 25,137 shares of the stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $40.17, for a total value of $1,009,753.29. Following the completion of the transaction, the chief executive officer directly owned 55,970 shares in the company, valued at $2,248,314.90. This trade represents a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 9.60% of the company’s stock.

Copart 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.