Allworth Financial LP Purchases 738 Shares of Copart, Inc. (NASDAQ:CPRT)

Posted by Defense World Staff on Jul 1st, 2023

Allworth Financial LP lifted its position in Copart, Inc. (NASDAQ:CPRT – Free Report) by 6.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 11,737 shares of the business services provider’s stock after purchasing an additional 738 shares during the period. Allworth Financial LP’s holdings in Copart were worth $883,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Regal Investment Advisors LLC boosted its holdings in Copart by 5.7% in the third quarter. Regal Investment Advisors LLC now owns 3,167 shares of the business services provider’s stock valued at $337,000 after acquiring an additional 170 shares in the last quarter. Retirement Systems of Alabama boosted its holdings in Copart by 0.3% in the third quarter. Retirement Systems of Alabama now owns 71,048 shares of the business services provider’s stock valued at $7,560,000 after acquiring an additional 189 shares in the last quarter. Utah Retirement Systems boosted its holdings in Copart by 0.5% in the third quarter. Utah Retirement Systems now owns 38,144 shares of the business services provider’s stock valued at $4,058,000 after acquiring an additional 200 shares in the last quarter. ETF Managers Group LLC boosted its holdings in Copart by 4.0% in the third quarter. ETF Managers Group LLC now owns 5,461 shares of the business services provider’s stock valued at $581,000 after acquiring an additional 211 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in Copart by 3.9% in the third quarter. Mercer Global Advisors Inc. ADV now owns 5,640 shares of the business services provider’s stock valued at $600,000 after acquiring an additional 213 shares in the last quarter. Institutional investors own 78.90% of the company’s stock.

Insider Transactions at Copart

In other news, Chairman Willis J. Johnson sold 660,000 shares of Copart stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $89.07, for a total value of $58,786,200.00. Following the completion of the transaction, the chairman now owns 1,773,832 shares of the company’s stock, valued at approximately $157,995,216.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Copart news, Chairman Willis J. Johnson sold 660,000 shares of the business’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $89.07, for a total value of $58,786,200.00. Following the completion of the transaction, the chairman now owns 1,773,832 shares of the company’s stock, valued at approximately $157,995,216.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Stephen Fisher sold 50,000 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $87.06, for a total value of $4,353,000.00. The disclosure for this sale can be found here. Insiders sold a total of 933,100 shares of company stock valued at $82,877,409 in the last quarter. 11.19% of the stock is owned by insiders.

Copart Price Performance

CPRT opened at $91.21 on Friday. The stock has a 50-day moving average price of $84.90 and a 200-day moving average price of $73.95. The firm has a market cap of $43.54 billion, a PE ratio of 38.16 and a beta of 1.23. Copart, Inc. has a 1 year low of $52.28 and a 1 year high of $91.58.

Copart (NASDAQ:CPRT – Free Report) last posted its quarterly earnings results on Wednesday, May 17th. The business services provider reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.08. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Copart had a return on equity of 22.80% and a net margin of 30.72%. Copart’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.58 EPS. As a group, sell-side analysts anticipate that Copart, Inc. will post 2.43 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Northcoast Research cut shares of Copart from a “buy” rating to a “neutral” rating in a report on Monday, May 1st. Robert W. Baird boosted their target price on shares of Copart from $78.00 to $90.00 in a report on Thursday, May 18th. Finally, StockNews.com assumed coverage on shares of Copart in a report on Thursday, May 18th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Copart has an average rating of “Moderate Buy” and an average price target of $83.33.

About Copart

(Free Report)

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.