Sage Mountain Advisors LLC Cuts Stake in Copart, Inc. $CPRT

Sage Mountain Advisors LLC cut its position in shares of Copart, Inc. (NASDAQ:CPRT) by 0.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 285,019 shares of the business services provider’s stock after selling 1,444 shares during the period. Copart makes up about 0.9% of Sage Mountain Advisors LLC’s portfolio, making the stock its 21st biggest holding. Sage Mountain Advisors LLC’s holdings in Copart were worth $13,986,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CPRT. Brighton Jones LLC boosted its stake in Copart by 92.1% during the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock valued at $816,000 after buying an additional 6,817 shares during the last quarter. GAMMA Investing LLC boosted its stake in Copart by 21.5% during the first quarter. GAMMA Investing LLC now owns 20,352 shares of the business services provider’s stock valued at $1,152,000 after buying an additional 3,598 shares during the last quarter. Blue Trust Inc. boosted its stake in Copart by 13.1% during the first quarter. Blue Trust Inc. now owns 1,510 shares of the business services provider’s stock valued at $85,000 after buying an additional 175 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Copart by 1.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 30,558 shares of the business services provider’s stock valued at $1,729,000 after buying an additional 509 shares during the last quarter. Finally, Golden State Wealth Management LLC lifted its stake in shares of Copart by 126.2% in the 1st quarter. Golden State Wealth Management LLC now owns 2,886 shares of the business services provider’s stock valued at $163,000 after purchasing an additional 1,610 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Insider Buying and Selling at Copart

In other Copart news, CEO Jeffrey Liaw sold 24,283 shares of the firm’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the transaction, the chief executive officer directly owned 31,332 shares in the company, valued at $1,403,360.28. This trade represents a 43.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas N. Tryforos sold 228,840 shares of Copart stock in a transaction on Monday, September 15th. The shares were sold at an average price of $47.54, for a total value of $10,879,053.60. The disclosure for this sale can be found here. Company insiders own 9.68% of the company’s stock.

Analyst Upgrades and Downgrades

CPRT has been the subject of several analyst reports. Stephens lowered their price objective on Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a research note on Friday, September 5th. Hsbc Global Res raised Copart from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 4th. Robert W. Baird lowered their price objective on Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, July 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a research note on Friday. Finally, HSBC set a $62.00 price target on Copart and gave the stock a “buy” rating in a report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Copart currently has a consensus rating of “Moderate Buy” and an average price target of $54.50.

Copart Stock Down 0.0%

CPRT opened at $44.66 on Friday. The stock’s fifty day moving average is $46.39 and its two-hundred day moving average is $50.53. The company has a market capitalization of $43.22 billion, a P/E ratio of 27.91 and a beta of 1.03. Copart, Inc. has a 52 week low of $43.32 and a 52 week high of $64.38.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.37 by $0.04. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.14 billion. Copart had a return on equity of 18.17% and a net margin of 33.41%.Copart’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the business posted $0.33 EPS. Equities analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Copart Company Profile

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.