Kestra Private Wealth Services LLC Acquires 36,879 Shares of Copart, Inc. $CPRT

Kestra Private Wealth Services LLC raised its holdings in Copart, Inc. (NASDAQ:CPRT) by 70.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,920 shares of the business services provider’s stock after purchasing an additional 36,879 shares during the period. Kestra Private Wealth Services LLC’s holdings in Copart were worth $2,952,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Copart during the 4th quarter valued at approximately $569,569,000. Capital World Investors raised its holdings in Copart by 25.1% during the 4th quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock valued at $1,085,588,000 after acquiring an additional 5,555,101 shares during the period. Capital International Investors bought a new stake in Copart during the 4th quarter valued at $195,637,000. Deutsche Bank AG lifted its position in shares of Copart by 94.0% during the fourth quarter. Deutsche Bank AG now owns 9,955,661 shares of the business services provider’s stock worth $389,764,000 after acquiring an additional 4,823,111 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Copart by 21.7% during the fourth quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock worth $860,618,000 after acquiring an additional 3,918,610 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CPRT shares. Jefferies Financial Group set a $45.00 price target on Copart in a research report on Friday, May 22nd. Weiss Ratings downgraded Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Finally, Zacks Research upgraded shares of Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. 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 MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $44.50.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 26,213 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The shares were 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 directly owned 79,532 shares in the company, valued at approximately $2,638,871.76. The trade was a 24.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 9.60% of the company’s stock.

Copart Trading Up 1.7%

Shares of Copart stock opened at $30.55 on Friday. The firm has a market capitalization of $28.29 billion, a PE ratio of 18.98 and a beta of 1.00. The business’s 50-day moving average price is $32.24 and its 200-day moving average price is $35.59. Copart, Inc. has a 12 month low of $29.41 and a 12 month high of $50.11.

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

About Copart

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.