67,348 Shares in Copart, Inc. $CPRT Acquired by Inlet Private Wealth LLC

Inlet Private Wealth LLC acquired a new position in Copart, Inc. (NASDAQ:CPRT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 67,348 shares of the business services provider’s stock, valued at approximately $2,637,000.

Several other institutional investors and hedge funds also recently bought and sold shares of CPRT. AQR Capital Management LLC boosted its holdings in Copart by 298.2% in the 3rd quarter. AQR Capital Management LLC now owns 4,887,359 shares of the business services provider’s stock valued at $217,243,000 after purchasing an additional 3,660,031 shares during the period. Van ECK Associates Corp boosted its holdings in Copart by 2,266.7% in the 3rd quarter. Van ECK Associates Corp now owns 3,689,003 shares of the business services provider’s stock valued at $165,895,000 after purchasing an additional 3,533,133 shares during the period. Akre Capital Management LLC boosted its holdings in Copart by 253.1% in the 3rd quarter. Akre Capital Management LLC now owns 4,236,760 shares of the business services provider’s stock valued at $190,527,000 after purchasing an additional 3,036,760 shares during the period. Vanguard Group Inc. boosted its holdings in Copart by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 108,990,652 shares of the business services provider’s stock valued at $4,901,310,000 after purchasing an additional 2,581,784 shares during the period. Finally, Marshall Wace LLP boosted its holdings in Copart by 395.6% in the 3rd quarter. Marshall Wace LLP now owns 2,499,370 shares of the business services provider’s stock valued at $112,397,000 after purchasing an additional 1,995,074 shares during the period. 85.78% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Jeffrey Liaw sold 25,137 shares of Copart 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 completion of the sale, the chief executive officer directly 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 position. 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 Stock Performance

NASDAQ CPRT opened at $32.84 on Tuesday. Copart, Inc. has a 52-week low of $32.20 and a 52-week high of $63.85. The company has a market capitalization of $31.64 billion, a P/E ratio of 20.53 and a beta of 1.14. The company has a fifty day moving average of $36.43 and a 200-day moving average of $39.68.

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). Copart had a return on equity of 16.68% and a net margin of 33.76%.The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the firm posted $0.40 earnings per share. The business’s revenue was down 3.6% on a year-over-year basis. As a group, analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on CPRT. Zacks Research downgraded shares of Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 24th. Weiss Ratings reissued a “hold (c-)” rating on shares of Copart in a report on Monday, March 23rd. CJS Securities raised shares of Copart to a “strong-buy” rating in a report on Thursday, December 11th. Barclays reissued an “underweight” rating and issued 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 target on shares of Copart and gave the company an “outperform” rating in a report on Friday, February 20th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $44.40.

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.