Triavera Capital LLC Trims Stock Position in Copart, Inc. $CPRT

Triavera Capital LLC reduced its position in shares of Copart, Inc. (NASDAQ:CPRT) by 47.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,032 shares of the business services provider’s stock after selling 54,240 shares during the period. Copart makes up 1.3% of Triavera Capital LLC’s portfolio, making the stock its 19th biggest holding. Triavera Capital LLC’s holdings in Copart were worth $2,655,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CPRT. Allworth Financial LP lifted its position in Copart by 0.8% during the second quarter. Allworth Financial LP now owns 28,978 shares of the business services provider’s stock valued at $1,422,000 after purchasing an additional 228 shares during the last quarter. PDS Planning Inc boosted its stake in shares of Copart by 4.9% in the 3rd quarter. PDS Planning Inc now owns 5,196 shares of the business services provider’s stock valued at $234,000 after purchasing an additional 242 shares in the last quarter. Hollencrest Capital Management grew its holdings in shares of Copart by 13.2% during the 3rd quarter. Hollencrest Capital Management now owns 2,088 shares of the business services provider’s stock valued at $94,000 after purchasing an additional 244 shares during the last quarter. Unique Wealth LLC raised its position in Copart by 2.3% in the 3rd quarter. Unique Wealth LLC now owns 10,785 shares of the business services provider’s stock worth $485,000 after purchasing an additional 245 shares during the period. Finally, Tobam raised its position in Copart by 22.9% in the 2nd quarter. Tobam now owns 1,340 shares of the business services provider’s stock worth $66,000 after purchasing an additional 250 shares during the period. Institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

Shares of CPRT stock opened at $37.72 on Friday. The firm has a market cap of $36.34 billion, a P/E ratio of 23.58 and a beta of 1.09. Copart, Inc. has a fifty-two week low of $33.81 and a fifty-two week high of $63.85. The business’s 50 day moving average price is $39.07 and its 200-day moving average price is $41.92.

Copart (NASDAQ:CPRT) last issued 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 company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Copart had a net margin of 33.76% and a return on equity of 16.68%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 earnings per share. As a group, equities analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CPRT shares. Barclays reiterated an “underweight” rating and issued a $32.00 price objective (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 research report on Thursday, December 11th. Zacks Research cut Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 24th. JPMorgan Chase & Co. dropped their price objective on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research note 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 analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Copart presently has an average rating of “Hold” and a consensus target price of $44.40.

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 25,137 shares of Copart stock in a transaction that occurred 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.60% of the stock is currently owned by insiders.

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.