Copart, Inc. $CPRT Shares Sold by Bright Rock Capital Management LLC

Bright Rock Capital Management LLC reduced its position in Copart, Inc. (NASDAQ:CPRT) by 34.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 162,000 shares of the business services provider’s stock after selling 87,000 shares during the period. Bright Rock Capital Management LLC’s holdings in Copart were worth $6,342,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Cloud Capital Management LLC acquired a new stake in Copart in the third quarter valued at $25,000. Tripletail Wealth Management LLC acquired a new stake in Copart in the third quarter worth $27,000. LRI Investments LLC increased its holdings in shares of Copart by 125.2% in the 3rd quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock worth $29,000 after acquiring an additional 363 shares during the period. Cornerstone Planning Group LLC grew its position in Copart by 54.0% in the 3rd 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, Aventura Private Wealth LLC acquired a new stake in Copart in the 4th quarter valued at approximately $33,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other 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 sale, the chief executive officer directly owned 55,970 shares of the company’s stock, valued at $2,248,314.90. This represents a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 9.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. CJS Securities raised Copart to a “strong-buy” rating in a report on Thursday, December 11th. Robert W. Baird set a $48.00 price target on Copart and gave the company an “outperform” rating in a report on Friday, February 20th. Barclays restated an “underweight” rating and issued a $32.00 target price (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Copart in a research note on Monday, March 23rd. Finally, Zacks Research lowered shares of Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 24th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Copart presently has a consensus rating of “Hold” and an average price target of $44.40.

Copart Price Performance

NASDAQ CPRT opened at $32.61 on Tuesday. Copart, Inc. has a 52-week low of $32.20 and a 52-week high of $63.85. The firm has a market capitalization of $31.41 billion, a price-to-earnings ratio of 20.38 and a beta of 1.09. The company’s fifty day moving average is $37.23 and its two-hundred day moving average is $40.17.

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