43,184 Shares in Copart, Inc. $CPRT Bought by Magnus Financial Group LLC

Magnus Financial Group LLC bought a new position in Copart, Inc. (NASDAQ:CPRT) in the 3rd quarter, HoldingsChannel.com reports. The fund bought 43,184 shares of the business services provider’s stock, valued at approximately $1,178,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Western Pacific Wealth Management LP raised its stake in shares of Copart by 13.8% during the first quarter. Western Pacific Wealth Management LP now owns 2,646 shares of the business services provider’s stock worth $88,000 after acquiring an additional 320 shares in the last quarter. Alpha Family Trust boosted its stake in shares of Copart by 3.4% in the 1st quarter. Alpha Family Trust now owns 11,010 shares of the business services provider’s stock valued at $366,000 after purchasing an additional 360 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Copart by 1.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 28,547 shares of the business services provider’s stock valued at $805,000 after purchasing an additional 369 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Copart by 1.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 24,183 shares of the business services provider’s stock valued at $660,000 after purchasing an additional 447 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Copart by 110.9% during the 2nd quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 498 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Jeffrey Liaw sold 27,745 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the completion of the sale, the chief executive officer owned 99,641 shares of the company’s stock, valued at $3,038,054.09. This trade represents a 21.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Diane M. Morefield sold 20,000 shares of the stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $27.66, for a total value of $553,200.00. Following the sale, the director owned 50,000 shares in the company, valued at approximately $1,383,000. This represents a 28.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 9.60% of the stock is currently owned by insiders.

Copart Price Performance

Shares of NASDAQ:CPRT opened at $27.58 on Thursday. Copart, Inc. has a 1-year low of $25.72 and a 1-year high of $45.76. The business has a fifty day moving average price of $29.99 and a 200-day moving average price of $30.69. The company has a market capitalization of $25.55 billion, a PE ratio of 17.79, a PEG ratio of 1.36 and a beta of 1.06.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, September 10th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.03). The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Copart had a return on equity of 15.93% and a net margin of 31.81%. Copart’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.41 EPS. On average, sell-side analysts anticipate that Copart, Inc. will post 1.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CPRT. Weiss Ratings reiterated a “sell (d+)” rating on shares of Copart in a research report on Wednesday, July 29th. Barclays set a $25.00 target price on shares of Copart and gave the stock an “underweight” rating in a research note on Wednesday, August 26th. JPMorgan Chase & Co. raised Copart from a “neutral” rating to an “overweight” rating and upped their price target for the company from $32.00 to $40.00 in a research report on Thursday, September 3rd. Deutsche Bank Aktiengesellschaft set a $40.00 price objective on shares of Copart in a report on Thursday, September 3rd. Finally, Robert W. Baird lowered their price objective on Copart from $42.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, September 11th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Copart presently has an average rating of “Moderate Buy” and a consensus price target of $37.80.

About Copart

Copart, Inc is a provider of online vehicle auction and remarketing services. The company operates a digital marketplace that connects vehicle sellers with a broad network of buyers, including licensed dismantlers, rebuilders, used-car dealers, exporters and individual consumers.

Copart primarily sells vehicles that have been damaged, declared total losses by insurers, repossessed, donated or otherwise designated for resale. Its services also include vehicle storage, transportation, towing coordination, title processing, inspection and auction support.