Koa Wealth Management LLC Increases Holdings in Copart, Inc. $CPRT

Koa Wealth Management LLC raised its stake in Copart, Inc. (NASDAQ:CPRTFree Report) by 102.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,499 shares of the business services provider’s stock after buying an additional 26,513 shares during the quarter. Copart makes up approximately 1.3% of Koa Wealth Management LLC’s investment portfolio, making the stock its 26th largest position. Koa Wealth Management LLC’s holdings in Copart were worth $1,743,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of CPRT. Lodestone Wealth Management LLC purchased a new stake in shares of Copart in the fourth quarter valued at about $25,000. FNY Investment Advisers LLC purchased a new position in Copart during the third quarter worth about $36,000. Aventura Private Wealth LLC acquired a new position in Copart in the 4th quarter valued at about $33,000. Reflection Asset Management acquired a new position in Copart in the 4th quarter valued at about $34,000. Finally, Board of the Pension Protection Fund purchased a new stake in shares of Copart in the 4th quarter valued at approximately $35,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

NASDAQ CPRT opened at $29.27 on Wednesday. The firm has a 50 day simple moving average of $31.62 and a 200-day simple moving average of $35.09. Copart, Inc. has a one year low of $27.84 and a one year high of $50.11. The firm has a market cap of $27.10 billion, a price-to-earnings ratio of 18.18 and a beta of 1.02.

Copart (NASDAQ:CPRTGet Free Report) last announced its earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, topping 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 firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the firm earned $0.42 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities analysts predict that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Insider Transactions at Copart

In related news, CEO Jeffrey Liaw sold 26,213 shares of the business’s stock in a transaction on 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 directly owned 79,532 shares of the company’s stock, valued at $2,638,871.76. The trade was a 24.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 9.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Jefferies Financial Group set a $45.00 price target on shares of Copart in a research report on Friday, May 22nd. Freedom Capital raised Copart to a “strong-buy” rating in a research note on Friday, June 26th. Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Weiss Ratings lowered Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Three research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Copart presently has an average rating of “Moderate Buy” and a consensus price target of $44.50.

Get Our Latest Research Report on CPRT

Copart Company Profile

(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.

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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