462,711 Shares in Copart, Inc. $CPRT Purchased by Rockbridge Asset Management LLC

Rockbridge Asset Management LLC acquired a new stake in shares of Copart, Inc. (NASDAQ:CPRT) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 462,711 shares of the business services provider’s stock, valued at approximately $13,044,000. Copart comprises approximately 8.4% of Rockbridge Asset Management LLC’s portfolio, making the stock its 4th largest position.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Flossbach Von Storch SE bought a new position in shares of Copart in the 2nd quarter worth approximately $70,512,000. Danske Bank A S bought a new stake in shares of Copart during the second quarter valued at approximately $13,167,000. Diversify Advisory Services LLC purchased a new stake in Copart in the second quarter worth $301,000. Wealthfront Advisers LLC purchased a new stake in Copart in the second quarter worth $1,821,000. Finally, Park State Asset Management bought a new position in Copart in the second quarter worth $3,409,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CPRT shares. Barclays set a $26.00 target price on shares of Copart and gave the company an “underweight” rating in a report on Tuesday, July 21st. Jefferies Financial Group set a $45.00 price objective on shares of Copart in a research note on Friday, May 22nd. Freedom Capital raised shares of Copart to a “strong-buy” rating in a research note on Friday, June 26th. Zacks Research cut Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Copart in a research note on Wednesday, July 29th. Three research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Copart has an average rating of “Hold” and an average price target of $43.50.

Insider Activity

In other news, CEO Jeffrey Liaw sold 27,745 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the sale, the chief executive officer owned 99,641 shares in the company, valued at $3,038,054.09. This represents a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 9.60% of the company’s stock.

Copart Stock Performance

Shares of CPRT stock opened at $33.85 on Thursday. Copart, Inc. has a one year low of $26.81 and a one year high of $50.11. The company’s 50-day moving average is $29.37 and its 200 day moving average is $32.74. The company has a market capitalization of $31.34 billion, a price-to-earnings ratio of 21.02 and a beta of 1.01.

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

Copart 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.