McBroom & Associates LLC Sells 15,369 Shares of Copart, Inc. $CPRT

McBroom & Associates LLC trimmed its position in Copart, Inc. (NASDAQ:CPRT) by 9.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 141,737 shares of the business services provider’s stock after selling 15,369 shares during the period. Copart makes up approximately 3.0% of McBroom & Associates LLC’s investment portfolio, making the stock its 17th largest holding. McBroom & Associates LLC’s holdings in Copart were worth $6,374,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Tripletail Wealth Management LLC bought a new position in shares of Copart during the 3rd quarter worth approximately $27,000. Ameritas Advisory Services LLC acquired a new position in Copart in the second quarter valued at about $31,000. Creekmur Asset Management LLC lifted its position in Copart by 1,063.0% during the second quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock worth $31,000 after purchasing an additional 574 shares during the period. Bank of Jackson Hole Trust grew its stake in Copart by 83.8% during the second quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock worth $36,000 after buying an additional 335 shares in the last quarter. Finally, GFG Capital LLC bought a new position in Copart in the 2nd quarter valued at about $37,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Activity

In related news, Director Thomas N. Tryforos sold 100,000 shares of Copart stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total value of $3,907,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jeffrey Liaw sold 25,137 shares of the stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total value of $1,009,753.29. Following the transaction, 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 position. The SEC filing for this sale provides additional information. Insiders own 9.60% of the company’s stock.

Copart Trading Down 0.5%

Shares of NASDAQ CPRT opened at $41.04 on Friday. The firm’s 50-day moving average price is $39.55 and its 200-day moving average price is $43.84. The firm has a market capitalization of $39.73 billion, a P/E ratio of 25.02 and a beta of 1.10. Copart, Inc. has a 1-year low of $37.41 and a 1-year high of $63.85.

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

Analysts Set New Price Targets

CPRT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Copart from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday, November 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. CJS Securities upgraded Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Barclays reiterated an “underweight” rating and issued a $33.00 target price (up from $32.00) on shares of Copart in a research report on Friday, November 21st. Finally, Robert W. Baird cut their target price on shares of Copart from $55.00 to $52.00 and set an “outperform” rating on the stock in a research report on Friday, November 21st. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $47.60.

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.