Nutshell Asset Management Ltd Increases Stock Holdings in Copart, Inc. $CPRT

Nutshell Asset Management Ltd boosted its stake in Copart, Inc. (NASDAQ:CPRT) by 41.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 90,275 shares of the business services provider’s stock after acquiring an additional 26,275 shares during the period. Copart accounts for approximately 1.9% of Nutshell Asset Management Ltd’s holdings, making the stock its 15th biggest holding. Nutshell Asset Management Ltd’s holdings in Copart were worth $4,060,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CPRT. Cloud Capital Management LLC bought a new stake in shares of Copart during the 3rd quarter valued at about $25,000. Tripletail Wealth Management LLC bought a new position in Copart in the third quarter worth about $27,000. LRI Investments LLC raised its stake in Copart by 125.2% in the third quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock worth $29,000 after buying an additional 363 shares in the last quarter. Cornerstone Planning Group LLC lifted its holdings in Copart by 54.0% in the third quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock worth $31,000 after buying an additional 256 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. boosted its position in Copart by 173.4% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 864 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 548 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of Copart stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the completion of the transaction, the chief executive officer owned 55,970 shares in the company, valued at approximately $2,248,314.90. The trade was a 30.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 9.60% of the company’s stock.

Copart Stock Performance

Shares of CPRT opened at $37.72 on Monday. Copart, Inc. has a fifty-two week low of $33.81 and a fifty-two week high of $63.85. The firm’s 50-day simple moving average is $39.07 and its two-hundred day simple moving average is $41.83. The stock has a market cap of $36.34 billion, a PE ratio of 23.58 and a beta of 1.09.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.03). Copart had a net margin of 33.76% and a return on equity of 16.68%. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the business posted $0.40 earnings per share. Copart’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities research analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Wall Street Analysts Forecast Growth

CPRT has been the topic of a number of research analyst reports. CJS Securities upgraded Copart to a “strong-buy” rating in a report on Thursday, December 11th. Barclays restated an “underweight” rating and issued a $32.00 target price (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. Robert W. Baird set a $48.00 price target on Copart and gave the stock an “outperform” rating in a research note on Friday, February 20th. JPMorgan Chase & Co. reduced their price target on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. Finally, Zacks Research lowered 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 assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $44.40.

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.