Copart, Inc. $CPRT Stock Position Lowered by Signal Advisors Wealth LLC

Signal Advisors Wealth LLC lowered its position in shares of Copart, Inc. (NASDAQ:CPRT) by 11.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 207,025 shares of the business services provider’s stock after selling 25,950 shares during the quarter. Signal Advisors Wealth LLC’s holdings in Copart were worth $6,873,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB grew its stake in shares of Copart by 4.1% in the 4th quarter. Nordea Investment Management AB now owns 798,087 shares of the business services provider’s stock worth $31,353,000 after purchasing an additional 31,658 shares during the last quarter. ABN Amro Investment Solutions lifted its stake in Copart by 82.5% during the fourth quarter. ABN Amro Investment Solutions now owns 199,794 shares of the business services provider’s stock valued at $7,822,000 after purchasing an additional 90,339 shares during the last quarter. Davidson Kahn Capital Management LLC boosted its holdings in Copart by 56.3% during the fourth quarter. Davidson Kahn Capital Management LLC now owns 100,151 shares of the business services provider’s stock worth $3,921,000 after buying an additional 36,091 shares in the last quarter. Integrated Wealth Concepts LLC boosted its holdings in Copart by 21.0% during the third quarter. Integrated Wealth Concepts LLC now owns 249,396 shares of the business services provider’s stock worth $11,215,000 after buying an additional 43,292 shares in the last quarter. Finally, Gotham Asset Management LLC grew its position in Copart by 193.6% in the third quarter. Gotham Asset Management LLC now owns 944,876 shares of the business services provider’s stock worth $42,491,000 after buying an additional 623,012 shares during the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on CPRT. Weiss Ratings cut Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Jefferies Financial Group set a $45.00 target price on Copart in a report on Friday, May 22nd. 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. Zacks Research raised Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Finally, JPMorgan Chase & Co. decreased 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. 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $44.50.

Copart Price Performance

CPRT stock opened at $29.48 on Tuesday. The firm has a market capitalization of $27.29 billion, a P/E ratio of 18.31 and a beta of 1.01. Copart, Inc. has a 52-week low of $29.41 and a 52-week high of $50.11. The company’s 50 day simple moving average is $32.48 and its 200-day simple moving average is $35.81.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. Copart had a net margin of 33.48% and a return on equity of 16.63%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the business posted $0.42 EPS. The company’s revenue was up 2.1% on a year-over-year basis. Sell-side analysts predict that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Insider Activity

In other news, CEO Jeffrey Liaw sold 26,213 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total value of $869,747.34. Following the completion of the sale, the chief executive officer owned 79,532 shares in the company, valued at $2,638,871.76. This represents a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 9.60% of the stock is 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.