Ieq Capital LLC acquired a new stake in Copart, Inc. (NASDAQ:CPRT – Free Report) in the second quarter, Holdings Channel.com reports. The fund acquired 414,019 shares of the business services provider’s stock, valued at approximately $11,671,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in shares of Copart by 92.1% during the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock worth $816,000 after buying an additional 6,817 shares during the last quarter. Geneos Wealth Management Inc. grew its position in Copart by 365.8% in the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock worth $63,000 after acquiring an additional 878 shares during the period. Jump Financial LLC acquired a new stake in Copart during the second quarter worth $2,677,000. Sei Investments Co. increased its stake in Copart by 110.0% during the second quarter. Sei Investments Co. now owns 900,330 shares of the business services provider’s stock worth $44,179,000 after acquiring an additional 471,571 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its position in Copart by 3.5% in the second quarter. Treasurer of the State of North Carolina now owns 413,083 shares of the business services provider’s stock valued at $20,270,000 after purchasing an additional 13,860 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on the company. Jefferies Financial Group set a $45.00 price target on Copart in a research note on Friday, May 22nd. Weiss Ratings restated a “sell (d+)” rating on shares of Copart in a report on Wednesday, July 29th. Freedom Capital raised shares of Copart to a “strong-buy” rating in a research report on Friday, June 26th. Barclays set a $26.00 target price on shares of Copart and gave the stock an “underweight” rating in a research note on Tuesday, July 21st. Finally, Zacks Research cut shares of Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Three research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $41.67.
Insider Buying and Selling
In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total value of $845,945.05. Following the completion of the transaction, the chief executive officer directly owned 99,641 shares of the company’s stock, valued at $3,038,054.09. The trade was a 21.78% 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 owned by company insiders.
Copart Stock Down 1.5%
CPRT opened at $33.80 on Friday. Copart, Inc. has a 52 week low of $26.81 and a 52 week high of $50.11. The business has a fifty day simple moving average of $29.49 and a 200-day simple moving average of $32.71. The firm has a market cap of $31.29 billion, a P/E ratio of 20.99 and a beta of 1.01.
Copart (NASDAQ:CPRT – Get Free Report) last posted its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the business earned $0.42 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. Sell-side analysts expect that Copart, Inc. will post 1.58 earnings per share for the current year.
About Copart
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.
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