Prevatt Capital Ltd Has $23.24 Million Stock Holdings in Copart, Inc. $CPRT

Prevatt Capital Ltd grew its position in Copart, Inc. (NASDAQ:CPRT) by 64.7% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 700,000 shares of the business services provider’s stock after purchasing an additional 275,000 shares during the quarter. Copart makes up 6.3% of Prevatt Capital Ltd’s portfolio, making the stock its 7th biggest position. Prevatt Capital Ltd’s holdings in Copart were worth $23,240,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CPRT. State Street Corp increased its stake in shares of Copart by 1.3% during the fourth quarter. State Street Corp now owns 37,555,437 shares of the business services provider’s stock valued at $1,470,295,000 after buying an additional 492,506 shares during the period. Capital World Investors lifted its stake in Copart by 25.1% in the fourth quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock worth $1,085,588,000 after acquiring an additional 5,555,101 shares during the period. Geode Capital Management LLC grew its holdings in Copart by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 23,255,161 shares of the business services provider’s stock worth $906,836,000 after acquiring an additional 131,703 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Copart by 21.7% during the 4th 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. Finally, Norges Bank purchased a new position in Copart during the 4th quarter valued at about $569,569,000. Institutional investors own 85.78% of the company’s stock.

Copart Price Performance

Shares of CPRT stock opened at $30.01 on Friday. The stock’s 50-day moving average is $31.86 and its 200 day moving average is $35.29. Copart, Inc. has a 1-year low of $27.84 and a 1-year high of $50.11. The company has a market cap of $27.78 billion, a P/E ratio of 18.64 and a beta of 1.02.

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

Insider Activity at Copart

In related 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 transaction of $869,747.34. Following the completion of the transaction, the chief executive officer owned 79,532 shares in the company, valued at $2,638,871.76. The trade was a 24.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 9.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Weiss Ratings lowered shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Zacks Research upgraded shares of Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Freedom Capital raised shares of Copart to a “strong-buy” rating in a report on Friday, June 26th. Finally, Jefferies Financial Group set a $45.00 price objective on shares of Copart in a research note on Friday, May 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $44.50.

Copart Company Profile

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.