Coldstream Capital Management Inc. Makes New Investment in Copart, Inc. (NASDAQ:CPRT)

Posted by on Mar 21st, 2023

Coldstream Capital Management Inc. bought a new position in Copart, Inc. (NASDAQ:CPRT – Get Rating) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,867 shares of the business services provider’s stock, valued at approximately $601,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Copart by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 23,612,513 shares of the business services provider’s stock worth $2,512,371,000 after purchasing an additional 245,063 shares during the period. FMR LLC grew its position in Copart by 23.0% during the second quarter. FMR LLC now owns 4,879,233 shares of the business services provider’s stock valued at $530,178,000 after buying an additional 913,619 shares during the period. Capital World Investors increased its holdings in Copart by 1.0% in the first quarter. Capital World Investors now owns 4,840,297 shares of the business services provider’s stock valued at $607,312,000 after buying an additional 48,523 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Copart by 4.4% in the third quarter. Bank of New York Mellon Corp now owns 2,129,996 shares of the business services provider’s stock worth $226,632,000 after acquiring an additional 89,105 shares during the period. Finally, Boston Partners boosted its stake in shares of Copart by 54.0% during the 3rd quarter. Boston Partners now owns 2,094,014 shares of the business services provider’s stock worth $222,840,000 after acquiring an additional 734,310 shares in the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Guggenheim lifted their price target on Copart from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday, February 22nd. Stephens reaffirmed an “overweight” rating and set a $78.00 target price on shares of Copart in a research note on Tuesday, February 21st. StockNews.com began coverage on shares of Copart in a research note on Thursday, March 16th. They issued a “buy” rating on the stock. Finally, Robert W. Baird upped their price objective on shares of Copart from $74.00 to $78.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 22nd.

Copart Price Performance

Shares of Copart stock opened at $70.53 on Tuesday. The stock has a market capitalization of $33.61 billion, a P/E ratio of 31.35 and a beta of 1.21. The business has a 50 day simple moving average of $67.71 and a two-hundred day simple moving average of $62.15. Copart, Inc. has a 12 month low of $51.10 and a 12 month high of $71.68.

Copart (NASDAQ:CPRT – Get Rating) last issued its quarterly earnings results on Tuesday, February 21st. The business services provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.56 by $0.05. The firm had revenue of $956.72 million during the quarter, compared to analysts’ expectations of $934.36 million. Copart had a return on equity of 22.93% and a net margin of 29.45%. During the same period in the previous year, the business earned $0.55 earnings per share. As a group, research analysts anticipate that Copart, Inc. will post 2.34 EPS for the current fiscal year.

Insider Activity

In related news, Director Matt Blunt sold 30,000 shares of the business’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $69.36, for a total transaction of $2,080,800.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 11.19% of the company’s stock.

Copart Profile

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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.

See Also

Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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