Copart, Inc. $CPRT Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC cut its holdings in Copart, Inc. (NASDAQ:CPRT) by 44.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,190 shares of the business services provider’s stock after selling 17,265 shares during the quarter. NewEdge Advisors LLC’s holdings in Copart were worth $703,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CPRT. Reflection Asset Management bought a new position in shares of Copart during the 4th quarter valued at about $34,000. Cache Advisors LLC bought a new stake in shares of Copart in the 1st quarter worth approximately $31,000. Triumph Capital Management raised its holdings in shares of Copart by 424.2% in the 4th quarter. Triumph Capital Management now owns 1,017 shares of the business services provider’s stock worth $40,000 after purchasing an additional 823 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Copart by 365.8% during the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock valued at $63,000 after purchasing an additional 878 shares during the last quarter. Finally, DV Equities LLC bought a new stake in Copart during the fourth quarter worth approximately $48,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the transaction, the chief executive officer directly owned 99,641 shares in the company, valued at approximately $3,038,054.09. The trade was a 21.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 9.60% of the company’s stock.

Copart Price Performance

Copart stock opened at $33.85 on Thursday. The firm’s 50 day simple moving average is $29.37 and its 200-day simple moving average is $32.74. The company has a market cap of $31.34 billion, a P/E ratio of 21.02 and a beta of 1.01. Copart, Inc. has a fifty-two week low of $26.81 and a fifty-two week high of $50.11.

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CPRT shares. Freedom Capital upgraded shares of Copart to a “strong-buy” rating in a research report on Friday, June 26th. Zacks Research downgraded Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Jefferies Financial Group set a $45.00 price objective on Copart in a research note on Friday, May 22nd. Barclays set a $26.00 target price on Copart and gave the stock an “underweight” rating in a report on Tuesday, July 21st. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Copart in a research report on Wednesday, July 29th. Three equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $43.50.

Copart 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.