Sierra Legacy Group Has $603,000 Stock Position in Copart, Inc. $CPRT

Sierra Legacy Group grew its holdings in Copart, Inc. (NASDAQ:CPRT) by 207.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 12,295 shares of the business services provider’s stock after purchasing an additional 8,295 shares during the period. Sierra Legacy Group’s holdings in Copart were worth $603,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. GC Wealth Management RIA LLC bought a new stake in shares of Copart during the 2nd quarter valued at approximately $219,000. Nordea Investment Management AB grew its stake in shares of Copart by 3.5% during the second quarter. Nordea Investment Management AB now owns 753,973 shares of the business services provider’s stock worth $36,153,000 after buying an additional 25,564 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Copart by 15.9% during the first quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider’s stock worth $868,417,000 after buying an additional 2,106,656 shares in the last quarter. Peak Financial Advisors LLC bought a new position in shares of Copart in the 2nd quarter valued at $2,467,000. Finally, Dark Forest Capital Management LP boosted its holdings in shares of Copart by 395.6% during the 1st quarter. Dark Forest Capital Management LP now owns 78,751 shares of the business services provider’s stock valued at $4,457,000 after acquiring an additional 62,861 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Thomas N. Tryforos sold 228,840 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $47.54, for a total transaction of $10,879,053.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey Liaw sold 24,283 shares of the business’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the sale, the chief executive officer owned 31,332 shares of the company’s stock, valued at $1,403,360.28. This trade represents a 43.66% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 9.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. HSBC set a $62.00 price target on shares of Copart and gave the stock a “buy” rating in a report on Thursday, September 4th. Hsbc Global Res upgraded shares of Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. Barclays set a $32.00 price objective on shares of Copart in a research report on Tuesday, November 11th. Finally, Stephens dropped their target price on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Copart currently has an average rating of “Hold” and an average target price of $50.00.

Copart Stock Down 0.0%

Shares of CPRT stock opened at $41.32 on Wednesday. Copart, Inc. has a 52 week low of $39.58 and a 52 week high of $64.38. The firm has a 50 day moving average of $44.20 and a 200-day moving average of $48.20. The company has a market cap of $39.99 billion, a price-to-earnings ratio of 25.83 and a beta of 1.06.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.04. The firm had revenue of $1.13 billion during 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 business’s revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.33 earnings per share. 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.