Focus Partners Wealth Acquires 3,137,997 Shares of Copart, Inc. $CPRT

Focus Partners Wealth grew its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 1,663.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,326,630 shares of the business services provider’s stock after acquiring an additional 3,137,997 shares during the quarter. Focus Partners Wealth’s holdings in Copart were worth $130,238,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Lodestone Wealth Management LLC bought a new stake in shares of Copart during the 4th quarter valued at about $25,000. Aventura Private Wealth LLC bought a new stake in shares of Copart during the 4th quarter valued at about $33,000. Board of the Pension Protection Fund bought a new stake in shares of Copart during the 4th quarter valued at about $35,000. FNY Investment Advisers LLC bought a new stake in shares of Copart during the 3rd quarter valued at about $36,000. Finally, Triumph Capital Management boosted its position in shares of Copart by 424.2% during the 4th quarter. Triumph Capital Management now owns 1,017 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 823 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CPRT. Robert W. Baird set a $48.00 price target on Copart and gave the company an “outperform” rating in a research report on Friday, February 20th. Jefferies Financial Group set a $45.00 price target on Copart in a research report on Friday, May 22nd. Zacks Research raised Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. JPMorgan Chase & Co. decreased their price objective on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Finally, Weiss Ratings cut Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Two investment 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 given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $44.50.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of Copart stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total value of $869,747.34. Following the transaction, the chief executive officer directly owned 79,532 shares of the company’s stock, valued at $2,638,871.76. The trade was a 24.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 9.60% of the stock is owned by company insiders.

Copart Price Performance

Shares of Copart stock opened at $30.75 on Monday. The business’s 50 day simple moving average is $32.85 and its two-hundred day simple moving average is $36.18. The stock has a market capitalization of $28.47 billion, a P/E ratio of 19.10 and a beta of 1.01. Copart, Inc. has a one year low of $29.97 and a one year high of $50.11.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Copart had a return on equity of 16.63% and a net margin of 33.48%.The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 EPS. Sell-side analysts expect that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

Copart Company 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.