Premier Path Wealth Partners LLC Sells 1,181 Shares of Copart, Inc. $CPRT

Premier Path Wealth Partners LLC cut its holdings in Copart, Inc. (NASDAQ:CPRT) by 7.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,488 shares of the business services provider’s stock after selling 1,181 shares during the period. Premier Path Wealth Partners LLC’s holdings in Copart were worth $760,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. GC Wealth Management RIA LLC bought a new position in Copart during the 2nd quarter valued at about $219,000. China Universal Asset Management Co. Ltd. raised its position in Copart by 52.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 23,862 shares of the business services provider’s stock worth $1,350,000 after purchasing an additional 8,181 shares during the period. Nordea Investment Management AB raised its position in Copart by 3.5% in the 2nd quarter. Nordea Investment Management AB now owns 753,973 shares of the business services provider’s stock worth $36,153,000 after purchasing an additional 25,564 shares during the period. Private Trust Co. NA raised its position in Copart by 16.5% in the 1st quarter. Private Trust Co. NA now owns 4,142 shares of the business services provider’s stock worth $234,000 after purchasing an additional 586 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Copart by 15.9% in the 1st quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider’s stock worth $868,417,000 after purchasing an additional 2,106,656 shares during the period. 85.78% of the stock is currently owned by institutional investors.

Copart Stock Performance

NASDAQ CPRT opened at $42.48 on Friday. The firm’s 50 day moving average price is $46.05 and its 200-day moving average price is $50.07. Copart, Inc. has a 52-week low of $42.26 and a 52-week high of $64.38. The company has a market cap of $41.11 billion, a PE ratio of 26.55 and a beta of 1.03.

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

Insider Buying and Selling at Copart

In related news, Director Thomas N. Tryforos sold 228,840 shares of the firm’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $47.54, for a total transaction of $10,879,053.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 of the company’s stock, valued at approximately $1,403,360.28. This trade represents a 43.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 9.68% of the company’s stock.

Wall Street Analysts Forecast Growth

CPRT has been the topic of a number of recent analyst reports. Robert W. Baird reduced their price objective on shares of Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, July 17th. Hsbc Global Res raised shares of Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Copart in a research report on Wednesday, October 8th. Stephens reduced their price objective on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Friday, September 5th. Finally, HSBC set a $62.00 target price on shares of Copart and gave the stock a “buy” rating in a research note on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $54.50.

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.