67,348 Shares in Copart, Inc. $CPRT Bought by Inlet Private Wealth LLC

Inlet Private Wealth LLC bought a new position in Copart, Inc. (NASDAQ:CPRT) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 67,348 shares of the business services provider’s stock, valued at approximately $2,637,000.

Other large investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its position in Copart by 13.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 371,603 shares of the business services provider’s stock worth $16,711,000 after purchasing an additional 45,346 shares during the period. Principal Financial Group Inc. raised its position in Copart by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 40,175,058 shares of the business services provider’s stock worth $1,806,674,000 after purchasing an additional 1,236,101 shares during the period. California Public Employees Retirement System raised its position in Copart by 89.0% in the 2nd quarter. California Public Employees Retirement System now owns 2,548,275 shares of the business services provider’s stock worth $125,044,000 after purchasing an additional 1,200,035 shares during the period. Yacktman Asset Management LP purchased a new position in Copart in the 3rd quarter worth $3,382,000. Finally, Comgest Global Investors S.A.S. raised its position in Copart by 7.2% in the 3rd quarter. Comgest Global Investors S.A.S. now owns 3,181,919 shares of the business services provider’s stock worth $143,091,000 after purchasing an additional 212,520 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jeffrey Liaw sold 25,137 shares of the business’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the sale, the chief executive officer owned 55,970 shares of the company’s stock, valued at $2,248,314.90. The trade was a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 9.60% of the stock is owned by insiders.

Copart Trading Down 1.7%

Shares of CPRT opened at $32.84 on Tuesday. The firm’s 50-day moving average price is $36.43 and its 200-day moving average price is $39.68. The firm has a market capitalization of $31.64 billion, a price-to-earnings ratio of 20.53 and a beta of 1.14. Copart, Inc. has a 1-year low of $32.20 and a 1-year high of $63.85.

Copart (NASDAQ:CPRT) last announced its 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). The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.15 billion. Copart had a net margin of 33.76% and a return on equity of 16.68%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.40 EPS. On average, research analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on CPRT. Weiss Ratings reiterated a “hold (c-)” rating on shares of Copart in a research report on Monday, March 23rd. CJS Securities raised shares of Copart to a “strong-buy” rating in a report on Thursday, December 11th. JPMorgan Chase & Co. cut their price target on shares of Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Robert W. Baird set a $48.00 price target on shares of Copart and gave the stock an “outperform” rating in a report on Friday, February 20th. Finally, Barclays reissued an “underweight” rating and issued a $32.00 price target (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $44.40.

About Copart

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.