SevenBridge Financial Group LLC Raises Stake in Copart, Inc. $CPRT

SevenBridge Financial Group LLC lifted its position in shares of Copart, Inc. (NASDAQ:CPRT) by 55.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 76,058 shares of the business services provider’s stock after buying an additional 27,045 shares during the quarter. SevenBridge Financial Group LLC’s holdings in Copart were worth $3,140,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CPRT. Cloud Capital Management LLC purchased a new stake in Copart in the 3rd quarter worth approximately $25,000. Tripletail Wealth Management LLC purchased a new position in shares of Copart during the 3rd quarter worth $27,000. LRI Investments LLC boosted its holdings in shares of Copart by 125.2% during the third quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock worth $29,000 after purchasing an additional 363 shares during the last quarter. Cornerstone Planning Group LLC boosted its holdings in shares of Copart by 54.0% during the third quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock worth $31,000 after purchasing an additional 256 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. grew its position in shares of Copart by 173.4% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 864 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 548 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Transactions at Copart

In related news, CEO Jeffrey Liaw sold 25,137 shares of the stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the completion of the sale, the chief executive officer owned 55,970 shares of the company’s stock, valued at approximately $2,248,314.90. This represents a 30.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 9.60% of the company’s stock.

Copart Trading Down 2.1%

Shares of Copart stock opened at $35.55 on Thursday. The business’s fifty day moving average price is $38.89 and its 200 day moving average price is $41.63. Copart, Inc. has a twelve month low of $33.81 and a twelve month high of $63.85. The stock has a market capitalization of $34.25 billion, a P/E ratio of 22.22 and a beta of 1.09.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, February 19th. The business services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.03). The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.15 billion. Copart had a return on equity of 16.68% and a net margin of 33.76%.The business’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.40 earnings per share. As a group, sell-side analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. JPMorgan Chase & Co. dropped their target price on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Barclays restated an “underweight” rating and issued a $32.00 price target (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Robert W. Baird set a $48.00 price objective on shares of Copart and gave the company an “outperform” rating in a research note on Friday, February 20th. CJS Securities upgraded shares of Copart to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Zacks Research cut shares of Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 24th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $44.40.

About Copart

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.