Crescent Grove Advisors LLC Buys 1,880 Shares of Copart, Inc. (NASDAQ:CPRT)

Posted by Defense World Staff on Mar 22nd, 2023

Crescent Grove Advisors LLC increased its stake in Copart, Inc. (NASDAQ:CPRT – Get Rating) by 100.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,760 shares of the business services provider’s stock after buying an additional 1,880 shares during the period. Crescent Grove Advisors LLC’s holdings in Copart were worth $229,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Copart by 1,212.2% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,110 shares of the business services provider’s stock valued at $390,000 after buying an additional 2,873 shares in the last quarter. Panagora Asset Management Inc. lifted its position in Copart by 14.6% during the 1st quarter. Panagora Asset Management Inc. now owns 8,456 shares of the business services provider’s stock valued at $1,061,000 after acquiring an additional 1,079 shares during the period. Vontobel Holding Ltd. boosted its stake in Copart by 52.1% during the first quarter. Vontobel Holding Ltd. now owns 10,823 shares of the business services provider’s stock worth $1,380,000 after acquiring an additional 3,707 shares in the last quarter. National Pension Service grew its holdings in Copart by 5.0% in the first quarter. National Pension Service now owns 286,903 shares of the business services provider’s stock worth $35,998,000 after purchasing an additional 13,666 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Copart by 1.2% during the first quarter. Vanguard Group Inc. now owns 22,968,882 shares of the business services provider’s stock valued at $2,881,905,000 after purchasing an additional 270,867 shares in the last quarter. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Copart Trading Up 0.9 %

CPRT stock opened at $71.17 on Wednesday. The stock’s 50 day simple moving average is $67.71 and its 200 day simple moving average is $62.15. Copart, Inc. has a 12-month low of $51.10 and a 12-month high of $71.68. The stock has a market capitalization of $33.92 billion, a PE ratio of 31.63 and a beta of 1.21.

Copart (NASDAQ:CPRT – Get Rating) last announced its quarterly earnings results on Tuesday, February 21st. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. Copart had a return on equity of 22.93% and a net margin of 29.45%. The firm had revenue of $956.72 million for the quarter, compared to the consensus estimate of $934.36 million. During the same period in the prior year, the company posted $0.55 earnings per share. On average, research analysts predict that Copart, Inc. will post 2.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Guggenheim boosted their price target on Copart from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, February 22nd. Stephens reissued an “overweight” rating and issued a $78.00 target price on shares of Copart in a research note on Tuesday, February 21st. StockNews.com assumed coverage on Copart in a research report on Thursday, March 16th. They issued a “buy” rating for the company. Finally, Robert W. Baird upped their price target on shares of Copart from $74.00 to $78.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 22nd.

Insider Activity

In related news, Director Matt Blunt sold 30,000 shares of Copart stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $69.36, for a total value of $2,080,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 11.19% of the company’s stock.

Copart Company 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.

Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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