Premier Path Wealth Partners LLC Reduces Position in Copart, Inc. $CPRT

Premier Path Wealth Partners LLC lessened its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 7.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,488 shares of the business services provider’s stock after selling 1,181 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Copart were worth $760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of CPRT. Cloud Capital Management LLC purchased a new position in shares of Copart during the 1st quarter worth $26,000. Atticus Wealth Management LLC purchased a new position in shares of Copart during the 2nd quarter worth $31,000. Ameritas Advisory Services LLC purchased a new position in shares of Copart during the 2nd quarter worth $31,000. Accent Capital Management LLC purchased a new position in shares of Copart during the 1st quarter worth $36,000. Finally, Bank of Jackson Hole Trust boosted its stake in shares of Copart by 83.8% during the 2nd quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock worth $36,000 after acquiring an additional 335 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insiders Place Their Bets

In other Copart news, Director Thomas N. Tryforos sold 228,840 shares of Copart stock in a transaction on Monday, September 15th. The shares were sold at an average price of $47.54, for a total value of $10,879,053.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey Liaw sold 24,283 shares of Copart 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 completion of the sale, the chief executive officer owned 31,332 shares in the company, valued at approximately $1,403,360.28. This represents a 43.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 9.68% of the company’s stock.

Copart Stock Performance

Shares of NASDAQ CPRT opened at $42.48 on Friday. The company has a market cap of $41.11 billion, a P/E ratio of 26.55 and a beta of 1.03. The firm’s fifty day moving average is $46.05 and its two-hundred day moving average is $50.07. Copart, Inc. has a 52-week low of $42.26 and a 52-week high of $64.38.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. The company had revenue of $1.13 billion for 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%. Copart’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.33 EPS. As a group, analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CPRT. Weiss Ratings reiterated a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. Stephens dropped their target price on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a report on Friday, September 5th. Robert W. Baird cut their price target on Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, July 17th. HSBC set a $62.00 price target on Copart and gave the stock a “buy” rating in a research note on Thursday, September 4th. Finally, Hsbc Global Res upgraded Copart from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.50.

Copart 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.