Copart, Inc. $CPRT Stake Lowered by Knollwood Investment Advisory LLC

Knollwood Investment Advisory LLC trimmed its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 36.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,992 shares of the business services provider’s stock after selling 18,008 shares during the quarter. Knollwood Investment Advisory LLC’s holdings in Copart were worth $1,570,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Atticus Wealth Management LLC bought a new stake in Copart in the second quarter valued at $31,000. Ameritas Advisory Services LLC bought a new position in shares of Copart during the second quarter worth about $31,000. Creekmur Asset Management LLC increased its holdings in shares of Copart by 1,063.0% in the 2nd quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock worth $31,000 after acquiring an additional 574 shares during the period. Bank of Jackson Hole Trust lifted its position in Copart by 83.8% in the 2nd quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 335 shares during the last quarter. Finally, GFG Capital LLC acquired a new position in Copart during the 2nd quarter valued at about $37,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Transactions at Copart

In related news, CEO Jeffrey Liaw sold 24,283 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total value of $1,087,635.57. Following the sale, the chief executive officer directly owned 31,332 shares in the company, valued at $1,403,360.28. The trade was a 43.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas N. Tryforos sold 100,000 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total transaction of $3,907,000.00. The SEC filing for this sale provides additional information. Insiders sold a total of 353,123 shares of company stock valued at $15,873,689 over the last three months. 9.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CPRT has been the topic of several analyst reports. Stephens dropped their price target on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Friday, September 5th. HSBC set a $62.00 price objective on Copart and gave the stock a “buy” rating in a report on Thursday, September 4th. JPMorgan Chase & Co. lowered their target price on Copart from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Monday, November 24th. Hsbc Global Res upgraded Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $47.60.

Copart Price Performance

CPRT opened at $38.80 on Friday. The business has a 50 day moving average price of $42.49 and a two-hundred day moving average price of $46.51. The company has a market capitalization of $37.56 billion, a price-to-earnings ratio of 23.66 and a beta of 1.12. Copart, Inc. has a 1-year low of $38.61 and a 1-year high of $63.85.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, November 20th. The business services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Copart had a return on equity of 17.78% and a net margin of 34.24%.The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the business earned $0.37 EPS. The company’s quarterly revenue was up .7% compared to the same quarter last year. Equities analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

About Copart

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.