Goldman Sachs Group Inc. Has $250.66 Million Holdings in Copart, Inc. $CPRT

Goldman Sachs Group Inc. increased its holdings in shares of Copart, Inc. (NASDAQ:CPRTFree Report) by 32.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,402,484 shares of the business services provider’s stock after buying an additional 1,575,173 shares during the quarter. Goldman Sachs Group Inc. owned 0.66% of Copart worth $250,657,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Quadrant Capital Group LLC raised its stake in Copart by 1.3% during the 3rd quarter. Quadrant Capital Group LLC now owns 20,693 shares of the business services provider’s stock worth $931,000 after buying an additional 264 shares during the period. Sierra Legacy Group raised its stake in Copart by 1.9% during the 4th quarter. Sierra Legacy Group now owns 13,880 shares of the business services provider’s stock worth $543,000 after buying an additional 265 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Copart by 23.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,384 shares of the business services provider’s stock valued at $68,000 after purchasing an additional 266 shares during the period. Brown Miller Wealth Management LLC raised its stake in shares of Copart by 3.8% in the 4th quarter. Brown Miller Wealth Management LLC now owns 7,310 shares of the business services provider’s stock valued at $286,000 after purchasing an additional 268 shares during the period. Finally, Valeo Financial Advisors LLC raised its stake in shares of Copart by 4.6% in the 4th quarter. Valeo Financial Advisors LLC now owns 6,395 shares of the business services provider’s stock valued at $250,000 after purchasing an additional 282 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jeffrey Liaw sold 26,213 shares of Copart stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the completion of the transaction, 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 ownership of the stock. 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

Shares of NASDAQ CPRT opened at $30.96 on Friday. Copart, Inc. has a fifty-two week low of $29.97 and a fifty-two week high of $50.92. The stock has a market capitalization of $28.66 billion, a price-to-earnings ratio of 19.23 and a beta of 1.00. The business has a 50-day moving average of $33.03 and a 200-day moving average of $36.55.

Copart (NASDAQ:CPRTGet Free Report) last posted its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates 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 last year, the company posted $0.42 earnings per share. Copart’s quarterly revenue was up 2.1% on a year-over-year basis. On average, sell-side analysts expect that Copart, Inc. will post 1.58 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on CPRT shares. Weiss Ratings downgraded Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. dropped their price target on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. Zacks Research raised Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Jefferies Financial Group set a $45.00 price target on Copart in a research note on Friday, May 22nd. Finally, Robert W. Baird set a $48.00 price target on Copart and gave the company an “outperform” rating in a research note on Friday, February 20th. Two equities 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $44.50.

Check Out Our Latest Stock Analysis on CPRT

About Copart

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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