Alta Capital Management LLC Has $20.96 Million Stock Position in Copart, Inc. $CPRT

Alta Capital Management LLC decreased its stake in Copart, Inc. (NASDAQ:CPRT) by 15.3% in the fourth quarter, HoldingsChannel reports. The firm owned 535,319 shares of the business services provider’s stock after selling 96,604 shares during the period. Copart accounts for 1.4% of Alta Capital Management LLC’s holdings, making the stock its 23rd biggest position. Alta Capital Management LLC’s holdings in Copart were worth $20,958,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cloud Capital Management LLC acquired a new position in shares of Copart in the 3rd quarter valued at $25,000. Lodestone Wealth Management LLC acquired a new stake in Copart during the 4th quarter worth about $25,000. LRI Investments LLC boosted its position in Copart by 125.2% during 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 boosted its position in Copart by 54.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock worth $31,000 after acquiring an additional 256 shares during the period. Finally, Aventura Private Wealth LLC acquired a new stake in Copart during the 4th quarter worth about $33,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Price Performance

CPRT opened at $33.44 on Tuesday. Copart, Inc. has a fifty-two week low of $32.20 and a fifty-two week high of $63.76. The business has a 50-day moving average of $33.54 and a 200-day moving average of $37.43. The company has a market capitalization of $32.21 billion, a PE ratio of 20.90 and a beta of 1.02.

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

Analyst Ratings Changes

A number of brokerages have commented on CPRT. Robert W. Baird set a $48.00 price objective on Copart and gave the stock an “outperform” rating in a research report on Friday, February 20th. Barclays restated an “underweight” rating and set a $32.00 price objective (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Weiss Ratings lowered Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. decreased their price objective on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research report on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Copart presently has an average rating of “Hold” and a consensus price target of $44.40.

Insider Buying and Selling at Copart

In related news, CEO Jeffrey Liaw sold 26,213 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total value of $869,747.34. Following the completion of the sale, the chief executive officer directly owned 79,532 shares in the company, valued at approximately $2,638,871.76. The trade was a 24.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 9.60% of the company’s stock.

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.