Copart, Inc. $CPRT Shares Purchased by SevenBridge Financial Group LLC

SevenBridge Financial Group LLC raised its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 52.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,565 shares of the business services provider’s stock after acquiring an additional 30,844 shares during the period. SevenBridge Financial Group LLC’s holdings in Copart were worth $3,017,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Copart during the fourth quarter valued at about $569,569,000. Capital World Investors lifted its holdings in Copart by 25.1% in the fourth quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock worth $1,085,588,000 after purchasing an additional 5,555,101 shares during the period. Capital International Investors bought a new position in Copart in the 4th quarter valued at about $195,637,000. Deutsche Bank AG grew its position in Copart by 94.0% in the 4th quarter. Deutsche Bank AG now owns 9,955,661 shares of the business services provider’s stock valued at $389,764,000 after buying an additional 4,823,111 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Copart by 21.7% in the 4th quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock valued at $860,618,000 after buying an additional 3,918,610 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analysts Set New Price Targets

CPRT has been the topic of a number of recent analyst reports. Jefferies Financial Group set a $45.00 price target on shares of Copart in a research report on Friday, May 22nd. Weiss Ratings cut shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Finally, Zacks Research upgraded shares of Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $44.50.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 26,213 shares of Copart stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total value of $869,747.34. Following the transaction, the chief executive officer owned 79,532 shares of the company’s stock, valued at $2,638,871.76. The trade was a 24.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 9.60% of the company’s stock.

Copart Stock Down 8.0%

Shares of Copart stock opened at $28.10 on Tuesday. The business has a fifty day simple moving average of $32.14 and a 200-day simple moving average of $35.49. Copart, Inc. has a fifty-two week low of $28.08 and a fifty-two week high of $50.11. The firm has a market cap of $26.02 billion, a price-to-earnings ratio of 17.45 and a beta of 1.01.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. Copart had a return on equity of 16.63% and a net margin of 33.48%.The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the company earned $0.42 earnings per share. Copart’s revenue was up 2.1% compared to the same quarter last year. Analysts anticipate that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

Copart Company Profile

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.