Copart, Inc. $CPRT Shares Acquired by Smart Money Group LLC

Smart Money Group LLC grew its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 12.0% during the second quarter, Holdings Channel reports. The institutional investor owned 17,473 shares of the business services provider’s stock after acquiring an additional 1,870 shares during the period. Smart Money Group LLC’s holdings in Copart were worth $857,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CPRT. Atticus Wealth Management LLC bought a new position in Copart during the second quarter valued at about $31,000. Ameritas Advisory Services LLC bought a new stake in shares of Copart in the 2nd quarter worth approximately $31,000. Creekmur Asset Management LLC lifted its stake in Copart by 1,063.0% during the second quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 574 shares during the last quarter. Accent Capital Management LLC bought a new stake in Copart during the first quarter worth approximately $36,000. Finally, Bank of Jackson Hole Trust grew its position in Copart by 83.8% in the second quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock worth $36,000 after buying an additional 335 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Insider Buying and Selling at Copart

In related news, CEO Jeffrey Liaw sold 24,283 shares of the business’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the completion of the transaction, the chief executive officer owned 31,332 shares of the company’s stock, valued at approximately $1,403,360.28. The trade was a 43.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas N. Tryforos sold 228,840 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $47.54, for a total value of $10,879,053.60. The disclosure for this sale is available in the SEC filing. Company insiders own 9.60% of the company’s stock.

Copart Stock Performance

Shares of NASDAQ CPRT opened at $39.98 on Friday. The business’s 50-day simple moving average is $45.39 and its 200-day simple moving average is $49.45. Copart, Inc. has a 52 week low of $39.58 and a 52 week high of $64.38. The firm has a market cap of $38.69 billion, a price-to-earnings ratio of 24.99 and a beta of 1.06.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. Copart had a return on equity of 18.17% and a net margin of 33.41%.The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the prior year, the business earned $0.33 earnings per share. The company’s revenue was up 2.9% on a year-over-year basis. As a group, equities research analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CPRT. HSBC set a $62.00 target price on Copart and gave the stock a “buy” rating in a report on Thursday, September 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. Hsbc Global Res raised shares of Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. Stephens reduced their price target on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a research report on Friday, September 5th. Finally, Robert W. Baird reduced their price objective on Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.50.

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.