Sagespring Wealth Partners LLC Buys 15,495 Shares of Copart, Inc. $CPRT

Sagespring Wealth Partners LLC raised its stake in Copart, Inc. (NASDAQ:CPRT) by 109.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,626 shares of the business services provider’s stock after acquiring an additional 15,495 shares during the period. Sagespring Wealth Partners LLC’s holdings in Copart were worth $1,160,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Copart by 2.4% in the third quarter. Vanguard Group Inc. now owns 108,990,652 shares of the business services provider’s stock worth $4,901,310,000 after purchasing an additional 2,581,784 shares during the period. Principal Financial Group Inc. raised its stake in Copart by 3.2% in the third quarter. Principal Financial Group Inc. now owns 40,175,058 shares of the business services provider’s stock valued at $1,806,674,000 after purchasing an additional 1,236,101 shares in the last quarter. State Street Corp lifted its position in Copart by 1.8% during the third quarter. State Street Corp now owns 37,062,931 shares of the business services provider’s stock worth $1,666,720,000 after purchasing an additional 656,428 shares during the period. Norges Bank bought a new stake in Copart during the second quarter worth about $549,448,000. Finally, Invesco Ltd. grew its stake in Copart by 7.6% during the third quarter. Invesco Ltd. now owns 10,931,871 shares of the business services provider’s stock worth $491,606,000 after buying an additional 771,573 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors.

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 shares were sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the sale, the chief executive officer owned 55,970 shares of the company’s stock, valued at approximately $2,248,314.90. This represents a 30.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 9.60% of the company’s stock.

Copart Stock Performance

Copart stock opened at $32.84 on Monday. The firm has a market cap of $31.63 billion, a price-to-earnings ratio of 20.52 and a beta of 1.09. Copart, Inc. has a 52-week low of $32.20 and a 52-week high of $63.85. The firm has a 50 day moving average price of $38.15 and a two-hundred day moving average price of $40.84.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data 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 firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, equities research analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on CPRT shares. Zacks Research lowered shares of Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 24th. CJS Securities raised Copart to a “strong-buy” rating in a report on Thursday, December 11th. JPMorgan Chase & Co. decreased their price target on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. Barclays reissued an “underweight” rating and set 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 objective on Copart and gave the company an “outperform” rating in a research note on Friday, February 20th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $44.40.

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.