Copart, Inc. $CPRT Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its position in shares of Copart, Inc. (NASDAQ:CPRT) by 24.1% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 3,149,587 shares of the business services provider’s stock after selling 1,002,184 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Copart were worth $154,550,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CPRT. Cloud Capital Management LLC acquired a new stake in Copart during the 1st quarter worth about $26,000. Atticus Wealth Management LLC acquired a new stake in Copart during the 2nd quarter worth about $31,000. Ameritas Advisory Services LLC acquired a new stake in Copart during the 2nd quarter worth about $31,000. Accent Capital Management LLC acquired a new stake in Copart during the 1st quarter worth about $36,000. Finally, GFG Capital LLC acquired a new stake in Copart during the 2nd quarter worth about $37,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Transactions at Copart

In related news, Director Thomas N. Tryforos sold 228,840 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $47.54, for a total value of $10,879,053.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey Liaw sold 24,283 shares of the company’s stock in a transaction dated 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 directly owned 31,332 shares of the company’s stock, valued at $1,403,360.28. The trade was a 43.66% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 9.68% of the company’s stock.

Copart Trading Down 0.2%

NASDAQ CPRT opened at $44.07 on Wednesday. The stock has a market capitalization of $42.65 billion, a price-to-earnings ratio of 27.54 and a beta of 1.03. Copart, Inc. has a twelve month low of $43.32 and a twelve month high of $64.38. The stock has a 50-day moving average of $46.25 and a 200 day moving average of $50.24.

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

Analysts Set New Price Targets

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

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.