Motley Fool Asset Management LLC Buys 4,717 Shares of Copart, Inc. $CPRT

Motley Fool Asset Management LLC raised its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 10.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,657 shares of the business services provider’s stock after purchasing an additional 4,717 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Copart were worth $2,437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of CPRT. Cloud Capital Management LLC bought a new stake in Copart during the first quarter valued at approximately $26,000. Atticus Wealth Management LLC purchased a new position in shares of Copart during the second quarter worth approximately $31,000. Ameritas Advisory Services LLC purchased a new position in shares of Copart during the second quarter worth approximately $31,000. Accent Capital Management LLC purchased a new position in shares of Copart during the first quarter worth approximately $36,000. Finally, GFG Capital LLC purchased a new position in shares of Copart during the second quarter worth approximately $37,000. 85.78% of the stock is currently owned by institutional investors.

Copart Stock Down 0.2%

Shares of NASDAQ CPRT opened at $44.07 on Wednesday. Copart, Inc. has a 52 week low of $43.32 and a 52 week high of $64.38. The firm’s fifty day moving average is $46.25 and its 200 day moving average is $50.24. The company has a market cap of $42.65 billion, a price-to-earnings ratio of 27.54 and a beta of 1.03.

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

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 24,283 shares of the business’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the transaction, the chief executive officer directly owned 31,332 shares of the company’s stock, valued at approximately $1,403,360.28. The trade was a 43.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas N. Tryforos sold 228,840 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $47.54, for a total transaction of $10,879,053.60. Additional details regarding this sale are available in the official SEC disclosure. 9.68% of the stock is currently owned by insiders.

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.