Copart, Inc. $CPRT Shares Acquired by SevenBridge Financial Group LLC

SevenBridge Financial Group LLC lifted its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 52.5% during the first quarter, Holdings Channel reports. The firm owned 89,565 shares of the business services provider’s stock after purchasing an additional 30,844 shares during the quarter. SevenBridge Financial Group LLC’s holdings in Copart were worth $3,017,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Lodestone Wealth Management LLC acquired a new position in shares of Copart in the 4th quarter valued at $25,000. Cache Advisors LLC acquired a new stake in Copart during the 1st quarter worth about $31,000. Aventura Private Wealth LLC acquired a new stake in Copart during the 4th quarter worth about $33,000. Reflection Asset Management acquired a new stake in Copart during the 4th quarter worth about $34,000. Finally, Board of the Pension Protection Fund purchased a new stake in Copart during the fourth quarter valued at about $35,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on CPRT shares. Weiss Ratings cut shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Zacks Research upgraded shares of Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Jefferies Financial Group set a $45.00 price objective on shares of Copart in a research note on Friday, May 22nd. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Copart has an average rating of “Hold” and a consensus target price of $44.50.

Copart Trading Down 8.0%

NASDAQ:CPRT opened at $28.10 on Tuesday. The firm has a market capitalization of $26.02 billion, a price-to-earnings ratio of 17.45 and a beta of 1.01. Copart, Inc. has a 1-year low of $28.08 and a 1-year high of $50.11. The business’s fifty day moving average price is $32.14 and its 200 day moving average price is $35.49.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.02. Copart had a return on equity of 16.63% and a net margin of 33.48%.The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the business earned $0.42 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities analysts forecast that Copart, Inc. will post 1.58 earnings per share for the current year.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 26,213 shares of the company’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total value of $869,747.34. Following the transaction, the chief executive officer owned 79,532 shares in the company, valued at $2,638,871.76. This represents a 24.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 9.60% of the stock is owned by corporate insiders.

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.