Western Wealth Management LLC Purchases Shares of 16,300 Copart, Inc. $CPRT

Western Wealth Management LLC purchased a new stake in shares of Copart, Inc. (NASDAQ:CPRT) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 16,300 shares of the business services provider’s stock, valued at approximately $541,000.

A number of other hedge funds also recently modified their holdings of the business. Brighton Jones LLC raised its position in Copart by 92.1% during the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock worth $816,000 after purchasing an additional 6,817 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of Copart by 365.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock valued at $63,000 after buying an additional 878 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Copart in the 2nd quarter valued at about $2,677,000. Sei Investments Co. increased its stake in shares of Copart by 110.0% in the second quarter. Sei Investments Co. now owns 900,330 shares of the business services provider’s stock valued at $44,179,000 after buying an additional 471,571 shares during the period. Finally, Treasurer of the State of North Carolina increased its stake in shares of Copart by 3.5% in the second quarter. Treasurer of the State of North Carolina now owns 413,083 shares of the business services provider’s stock valued at $20,270,000 after buying an additional 13,860 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Freedom Capital upgraded Copart to a “strong-buy” rating in a research report on Friday, June 26th. Jefferies Financial Group set a $45.00 target price on Copart in a report on Friday, May 22nd. Weiss Ratings reissued a “sell (d+)” rating on shares of Copart in a research report on Wednesday, July 29th. Zacks Research lowered shares of Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. Finally, Barclays set a $26.00 price target on shares of Copart and gave the stock an “underweight” rating in a research report on Tuesday, July 21st. Three investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Copart presently has an average rating of “Hold” and a consensus price target of $43.50.

Copart Price Performance

Shares of NASDAQ:CPRT opened at $31.61 on Friday. The company has a market capitalization of $29.26 billion, a price-to-earnings ratio of 19.63 and a beta of 1.01. The business’s 50-day moving average is $29.30 and its 200-day moving average is $32.98. Copart, Inc. has a 1 year low of $26.81 and a 1 year high of $50.11.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.19 billion. Copart had a return on equity of 16.63% and a net margin of 33.48%.The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 EPS. Analysts anticipate that Copart, Inc. will post 1.58 EPS for the current year.

Insider Activity

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total transaction of $845,945.05. Following the transaction, the chief executive officer directly owned 99,641 shares in the company, valued at approximately $3,038,054.09. This represents a 21.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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.