Copart, Inc. $CPRT Shares Acquired by Koa Wealth Management LLC

Koa Wealth Management LLC increased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 102.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,499 shares of the business services provider’s stock after purchasing an additional 26,513 shares during the period. Copart accounts for approximately 1.3% of Koa Wealth Management LLC’s portfolio, making the stock its 26th largest position. Koa Wealth Management LLC’s holdings in Copart were worth $1,743,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB raised its holdings in Copart by 4.1% during the fourth quarter. Nordea Investment Management AB now owns 798,087 shares of the business services provider’s stock worth $31,353,000 after purchasing an additional 31,658 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of Copart by 14.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 333,624 shares of the business services provider’s stock valued at $11,076,000 after buying an additional 41,060 shares during the last quarter. ABN Amro Investment Solutions grew its position in shares of Copart by 82.5% in the 4th quarter. ABN Amro Investment Solutions now owns 199,794 shares of the business services provider’s stock valued at $7,822,000 after buying an additional 90,339 shares during the last quarter. Davidson Kahn Capital Management LLC raised its stake in Copart by 56.3% during the 4th quarter. Davidson Kahn Capital Management LLC now owns 100,151 shares of the business services provider’s stock worth $3,921,000 after acquiring an additional 36,091 shares in the last quarter. Finally, Integrated Wealth Concepts LLC lifted its position in Copart by 21.0% in the third quarter. Integrated Wealth Concepts LLC now owns 249,396 shares of the business services provider’s stock valued at $11,215,000 after acquiring an additional 43,292 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Trading Up 0.1%

Shares of CPRT stock opened at $29.27 on Wednesday. The business’s 50 day moving average is $31.62 and its two-hundred day moving average is $35.09. Copart, Inc. has a twelve month low of $27.84 and a twelve month high of $50.11. The company has a market capitalization of $27.10 billion, a P/E ratio of 18.18 and a beta of 1.02.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.41 by $0.02. Copart had a return on equity of 16.63% and a net margin of 33.48%.The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the business earned $0.42 earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts predict that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 26,213 shares of the firm’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total value of $869,747.34. Following the completion of the sale, the chief executive officer owned 79,532 shares in the company, valued at approximately $2,638,871.76. This trade represents a 24.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 9.60% of the company’s stock.

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.