First Hawaiian Bank Purchases 7,215 Shares of Copart, Inc. $CPRT

First Hawaiian Bank grew its position in shares of Copart, Inc. (NASDAQ:CPRT) by 17.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,665 shares of the business services provider’s stock after purchasing an additional 7,215 shares during the period. First Hawaiian Bank’s holdings in Copart were worth $2,811,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Cloud Capital Management LLC bought a new stake in Copart during the first quarter worth about $26,000. Sunbelt Securities Inc. bought a new stake in Copart during the fourth quarter worth about $31,000. Accent Capital Management LLC purchased a new position in shares of Copart in the first quarter worth about $36,000. Financial Network Wealth Advisors LLC increased its holdings in shares of Copart by 152.6% in the first quarter. Financial Network Wealth Advisors LLC now owns 783 shares of the business services provider’s stock worth $44,000 after buying an additional 473 shares during the period. Finally, SouthState Corp purchased a new position in shares of Copart in the first quarter worth about $45,000. Institutional investors own 85.78% of the company’s stock.

Insider Transactions at Copart

In related news, CEO Jeffrey Liaw sold 24,088 shares of the business’s stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the transaction, the chief executive officer owned 31,527 shares in the company, valued at $1,463,798.61. The trade was a 43.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 9.68% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CPRT. Stephens decreased their price objective on Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a report 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. decreased their price objective on Copart from $60.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, May 23rd. Robert W. Baird decreased their price objective on Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, July 17th. Finally, Hsbc Global Res upgraded Copart from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.50.

Copart Price Performance

Shares of NASDAQ:CPRT opened at $48.40 on Friday. Copart, Inc. has a 1 year low of $45.05 and a 1 year high of $64.38. The company has a market cap of $46.80 billion, a PE ratio of 30.25 and a beta of 1.03. The stock’s 50-day moving average is $47.39 and its 200 day moving average is $52.50.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. Copart had a return on equity of 18.17% and a net margin of 33.41%.The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the business earned $0.33 EPS. Copart’s revenue was up 2.9% compared to the same quarter last year. Analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Copart Profile

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.