Copart, Inc. $CPRT Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC lessened its holdings in Copart, Inc. (NASDAQ:CPRT) by 6.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 50,213 shares of the business services provider’s stock after selling 3,696 shares during the period. Metis Global Partners LLC’s holdings in Copart were worth $2,464,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Atticus Wealth Management LLC acquired a new position in shares of Copart in the second quarter worth about $31,000. Ameritas Advisory Services LLC bought a new position in Copart during the second quarter worth $31,000. Creekmur Asset Management LLC lifted its position in shares of Copart by 1,063.0% in the 2nd quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock worth $31,000 after buying an additional 574 shares during the last quarter. Accent Capital Management LLC bought a new position in Copart in the first quarter worth about $36,000. Finally, Bank of Jackson Hole Trust boosted its position in Copart by 83.8% during the 2nd quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 335 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Trading Up 1.3%

Shares of NASDAQ CPRT opened at $40.51 on Monday. Copart, Inc. has a one year low of $39.58 and a one year high of $64.38. The business has a 50-day moving average price of $45.23 and a two-hundred day moving average price of $49.16. The firm has a market capitalization of $39.21 billion, a PE ratio of 25.32 and a beta of 1.06.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 18.17% and a net margin of 33.41%.The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.33 EPS. Research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 24,283 shares of the stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total value of $1,087,635.57. Following the completion of the sale, the chief executive officer owned 31,332 shares in the company, valued at $1,403,360.28. This represents a 43.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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. The disclosure for this sale is available in the SEC filing. 9.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Copart in a report on Wednesday, October 8th. Robert W. Baird dropped their target price on shares of Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, July 17th. HSBC set a $62.00 target price on shares of Copart and gave the stock a “buy” rating in a report 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 report on Friday, September 5th. Finally, Hsbc Global Res upgraded Copart from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Copart has a consensus rating of “Moderate Buy” and a consensus target price of $54.50.

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.