Copart, Inc. $CPRT Stake Cut by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC reduced its position in Copart, Inc. (NASDAQ:CPRT) by 12.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,640 shares of the business services provider’s stock after selling 822 shares during the period. Valeo Financial Advisors LLC’s holdings in Copart were worth $277,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CPRT. Western Pacific Wealth Management LP grew its stake in shares of Copart by 6.5% during the first quarter. Western Pacific Wealth Management LP now owns 2,838 shares of the business services provider’s stock worth $161,000 after purchasing an additional 173 shares during the period. Blue Trust Inc. grew its stake in shares of Copart by 13.1% during the first quarter. Blue Trust Inc. now owns 1,510 shares of the business services provider’s stock worth $85,000 after purchasing an additional 175 shares during the period. Western Wealth Management LLC grew its stake in shares of Copart by 4.0% during the first quarter. Western Wealth Management LLC now owns 4,985 shares of the business services provider’s stock worth $282,000 after purchasing an additional 192 shares during the period. FSM Wealth Advisors LLC grew its stake in shares of Copart by 4.9% during the first quarter. FSM Wealth Advisors LLC now owns 4,649 shares of the business services provider’s stock worth $263,000 after purchasing an additional 218 shares during the period. Finally, Transcend Capital Advisors LLC grew its stake in shares of Copart by 1.6% during the first quarter. Transcend Capital Advisors LLC now owns 13,941 shares of the business services provider’s stock worth $789,000 after purchasing an additional 220 shares during the period. 85.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CPRT shares. Hsbc Global Res raised Copart from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 4th. Robert W. Baird decreased 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. 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 reiterated a “hold (c)” rating on shares of Copart in a report on Wednesday. Finally, Stephens reduced their target price on Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $54.50.

Insider Transactions at Copart

In other news, Director Thomas N. Tryforos sold 228,840 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $47.54, for a total value of $10,879,053.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jeffrey Liaw sold 24,088 shares of the business’s stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total value of $1,118,405.84. Following the completion of the sale, the chief executive officer owned 31,527 shares in the company, valued at approximately $1,463,798.61. This trade represents a 43.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.68% of the company’s stock.

Copart Trading Down 2.0%

CPRT stock opened at $44.04 on Friday. The business’s 50-day moving average price is $46.84 and its two-hundred day moving average price is $51.37. The firm has a market cap of $42.62 billion, a PE ratio of 27.53 and a beta of 1.03. Copart, Inc. has a 1-year low of $44.00 and a 1-year high of $64.38.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.14 billion. Copart had a return on equity of 18.17% and a net margin of 33.41%.The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.33 earnings per share. On average, analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Copart Profile

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.