Coldstream Capital Management Inc. Increases Stake in Copart, Inc. $CPRT

Coldstream Capital Management Inc. raised its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 9.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,435 shares of the business services provider’s stock after buying an additional 2,624 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Copart were worth $1,493,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. GC Wealth Management RIA LLC purchased a new stake in Copart during the 2nd quarter valued at about $219,000. Nordea Investment Management AB lifted its stake 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 in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Copart by 15.9% during 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 last quarter. Peak Financial Advisors LLC purchased a new stake in shares of Copart in the second quarter valued at approximately $2,467,000. Finally, Dark Forest Capital Management LP grew its position in shares of Copart by 395.6% in the first quarter. Dark Forest Capital Management LP now owns 78,751 shares of the business services provider’s stock valued at $4,457,000 after purchasing an additional 62,861 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Stock Performance

Copart stock opened at $38.91 on Tuesday. The company’s 50 day simple moving average is $43.57 and its 200-day simple moving average is $47.62. Copart, Inc. has a 1 year low of $38.67 and a 1 year high of $64.38. The company has a market capitalization of $37.66 billion, a price-to-earnings ratio of 24.32 and a beta of 1.06.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, November 20th. The business services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.18 billion. Copart had a net margin of 33.41% and a return on equity of 18.17%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the firm earned $0.37 EPS. Equities analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CPRT shares. Robert W. Baird reduced their price objective on Copart from $55.00 to $52.00 and set an “outperform” rating on the stock in a research report on Friday. Stephens reduced their price target on Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a report on Friday, September 5th. JPMorgan Chase & Co. cut their price objective on shares of Copart from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Monday. Barclays reiterated an “underweight” rating and issued a $33.00 target price (up from $32.00) on shares of Copart in a report on Friday. Finally, Hsbc Global Res upgraded shares of Copart from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $47.60.

Insiders Place Their Bets

In other Copart news, Director Thomas N. Tryforos sold 228,840 shares of Copart stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $47.54, for a total value of $10,879,053.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey Liaw sold 24,283 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer owned 31,332 shares in the company, valued at $1,403,360.28. This trade represents a 43.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 9.60% of the company’s stock.

About Copart

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.