Sequoia Financial Advisors LLC Takes $426,000 Position in Copart, Inc. (NASDAQ:CPRT)

Posted by Defense World Staff on Mar 29th, 2023

Sequoia Financial Advisors LLC bought a new stake in Copart, Inc. (NASDAQ:CPRT – Get Rating) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 6,992 shares of the business services provider’s stock, valued at approximately $426,000.

Other hedge funds also recently bought and sold shares of the company. General Partner Inc. purchased a new position in Copart during the 4th quarter valued at about $26,000. Massmutual Trust Co. FSB ADV increased its holdings in Copart by 177.4% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 294 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 188 shares during the period. CI Investments Inc. increased its holdings in Copart by 1,003.8% during the 3rd quarter. CI Investments Inc. now owns 287 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 261 shares during the period. American National Bank increased its holdings in Copart by 2,263.6% during the 4th quarter. American National Bank now owns 520 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 498 shares during the period. Finally, Ronald Blue Trust Inc. purchased a new position in Copart during the 2nd quarter valued at about $41,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, Director Matt Blunt sold 30,000 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 11.19% of the stock is currently owned by company insiders.

Copart Stock Performance

CPRT stock opened at $73.11 on Wednesday. The company has a market capitalization of $34.84 billion, a price-to-earnings ratio of 32.49 and a beta of 1.21. The business’s 50 day moving average price is $68.81 and its two-hundred day moving average price is $62.71. Copart, Inc. has a fifty-two week low of $51.10 and a fifty-two week high of $73.43.

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

About Copart

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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.