Schechter Investment Advisors LLC purchased a new position in Copart, Inc. (NASDAQ:CPRT – Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,126 shares of the business services provider’s stock, valued at approximately $235,000.
Other large investors have also recently modified their holdings of the company. Core Alternative Capital raised its position in shares of Copart by 235.6% in the 1st quarter. Core Alternative Capital now owns 396 shares of the business services provider’s stock worth $30,000 after purchasing an additional 278 shares during the last quarter. Janiczek Wealth Management LLC raised its position in Copart by 129.4% in the 4th quarter. Janiczek Wealth Management LLC now owns 406 shares of the business services provider’s stock worth $25,000 after buying an additional 229 shares during the last quarter. Arlington Partners LLC raised its position in Copart by 653.4% in the 1st quarter. Arlington Partners LLC now owns 437 shares of the business services provider’s stock worth $33,000 after buying an additional 379 shares during the last quarter. SRS Capital Advisors Inc. raised its position in Copart by 100.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 452 shares of the business services provider’s stock worth $28,000 after buying an additional 226 shares during the last quarter. Finally, Concord Wealth Partners purchased a new position in Copart in the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 78.90% of the company’s stock.
Insider Activity at Copart
In related news, CEO A Jayson Adair sold 300,000 shares of the business’s stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $88.32, for a total transaction of $26,496,000.00. Following the completion of the transaction, the chief executive officer now directly owns 10,147,030 shares in the company, valued at approximately $896,185,689.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO A Jayson Adair sold 300,000 shares of the business’s stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $88.32, for a total transaction of $26,496,000.00. Following the completion of the transaction, the chief executive officer now directly owns 10,147,030 shares in the company, valued at approximately $896,185,689.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Willis J. Johnson sold 660,000 shares of the company’s stock in a transaction that occurred on 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 $157,995,216.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,233,100 shares of company stock worth $109,373,409. 11.19% of the stock is owned by company insiders.
Copart Stock Down 1.1 %
Copart (NASDAQ:CPRT – Get Free Report) last announced its quarterly earnings data on Wednesday, May 17th. The business services provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.08. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Copart had a return on equity of 22.80% and a net margin of 30.72%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.58 EPS. Research analysts anticipate that Copart, Inc. will post 2.46 EPS for the current fiscal year.
Analyst Ratings Changes
A number of brokerages have weighed in on CPRT. Northcoast Research lowered Copart from a “buy” rating to a “neutral” rating in a research report on Monday, May 1st. JPMorgan Chase & Co. boosted their target price on Copart from $70.00 to $79.00 in a research report on Thursday, July 6th. StockNews.com assumed coverage on Copart in a research report on Thursday, May 18th. They issued a “buy” rating for the company. Finally, Robert W. Baird boosted their price target on Copart from $78.00 to $90.00 in a research note on Thursday, May 18th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Copart currently has an average rating of “Moderate Buy” and a consensus price target of $82.25.
About Copart
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.
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