Atria Investments Inc Reduces Stock Position in Copart, Inc. $CPRT

Atria Investments Inc lowered its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 21.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,525 shares of the business services provider’s stock after selling 19,561 shares during the quarter. Atria Investments Inc’s holdings in Copart were worth $3,510,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Cloud Capital Management LLC bought a new position in Copart during the 1st quarter valued at $26,000. Atticus Wealth Management LLC bought a new position in Copart during the 2nd quarter valued at $31,000. Ameritas Advisory Services LLC acquired a new stake in shares of Copart in the 2nd quarter valued at about $31,000. Accent Capital Management LLC acquired a new stake in shares of Copart in the 1st quarter valued at about $36,000. Finally, Bank of Jackson Hole Trust raised its stake in shares of Copart by 83.8% in the 2nd quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 335 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analyst Ratings Changes

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

Copart Stock Up 1.2%

Shares of CPRT stock opened at $43.01 on Monday. The company has a market cap of $41.63 billion, a P/E ratio of 26.88 and a beta of 1.03. Copart, Inc. has a 52 week low of $41.96 and a 52 week high of $64.38. The business has a 50 day moving average of $45.93 and a two-hundred day moving average of $49.81.

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, topping the consensus estimate of $0.37 by $0.04. Copart had a return on equity of 18.17% and a net margin of 33.41%.The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the business posted $0.33 EPS. The business’s revenue was up 2.9% on a year-over-year basis. Analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Activity

In other Copart news, Director Thomas N. Tryforos sold 228,840 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $47.54, for a total transaction of $10,879,053.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey Liaw sold 24,283 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 31,332 shares of the company’s stock, valued at $1,403,360.28. The trade was a 43.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 9.68% of the stock is currently owned by corporate insiders.

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.