Wealthfront Advisers LLC Sells 11,047 Shares of Copart, Inc. $CPRT

Wealthfront Advisers LLC decreased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 6.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 167,309 shares of the business services provider’s stock after selling 11,047 shares during the quarter. Wealthfront Advisers LLC’s holdings in Copart were worth $8,210,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. FSM Wealth Advisors LLC lifted its position in Copart by 4.9% during the first quarter. FSM Wealth Advisors LLC now owns 4,649 shares of the business services provider’s stock worth $263,000 after purchasing an additional 218 shares during the period. Stephens Inc. AR lifted its position in Copart by 0.7% during the second quarter. Stephens Inc. AR now owns 30,312 shares of the business services provider’s stock worth $1,487,000 after purchasing an additional 218 shares during the period. Gamco Investors INC. ET AL lifted its position in Copart by 1.8% during the first quarter. Gamco Investors INC. ET AL now owns 12,590 shares of the business services provider’s stock worth $712,000 after purchasing an additional 220 shares during the period. Brooklyn Investment Group lifted its position in Copart by 4.0% during the first quarter. Brooklyn Investment Group now owns 5,780 shares of the business services provider’s stock worth $327,000 after purchasing an additional 223 shares during the period. Finally, Blue Trust Inc. lifted its position in Copart by 15.4% during the second quarter. Blue Trust Inc. now owns 1,742 shares of the business services provider’s stock worth $85,000 after purchasing an additional 232 shares during the period. Institutional investors own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

CPRT has been the subject of several recent analyst reports. HSBC set a $62.00 price objective on shares of Copart and gave the stock a “buy” rating in a research report on Thursday, September 4th. Robert W. Baird cut their price objective on shares of Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, July 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Copart in a report on Wednesday, October 8th. Hsbc Global Res raised shares of Copart from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 4th. Finally, Stephens dropped their target price on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.50.

Copart Price Performance

Copart stock opened at $44.16 on Tuesday. The business has a 50 day moving average of $46.33 and a 200-day moving average of $50.34. Copart, Inc. has a 1 year low of $43.32 and a 1 year high of $64.38. The company has a market capitalization of $42.73 billion, a P/E ratio of 27.60 and a beta of 1.03.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the firm posted $0.33 earnings per share. The firm’s revenue was up 2.9% compared to the same quarter last year. Equities analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 24,283 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total value of $1,087,635.57. Following the completion of the transaction, the chief executive officer owned 31,332 shares of the company’s stock, valued at $1,403,360.28. This represents a 43.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Thomas N. Tryforos sold 228,840 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $47.54, for a total transaction of $10,879,053.60. The disclosure for this sale can be found here. Corporate insiders own 9.68% of the company’s stock.

Copart Company 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.