35,520 Shares in Copart, Inc. $CPRT Purchased by Pinebridge Investments LLC

Pinebridge Investments LLC acquired a new position in shares of Copart, Inc. (NASDAQ:CPRT) during the fourth quarter, Holdings Channel.com reports. The fund acquired 35,520 shares of the business services provider’s stock, valued at approximately $1,391,000.

Other institutional investors have also added to or reduced their stakes in the company. Lodestone Wealth Management LLC purchased a new stake in Copart during the 4th quarter worth about $25,000. FNY Investment Advisers LLC bought a new position in Copart in the 3rd quarter worth about $36,000. Aventura Private Wealth LLC bought a new position in Copart in the 4th quarter worth about $33,000. Board of the Pension Protection Fund bought a new position in Copart in the 4th quarter worth about $35,000. Finally, Geneos Wealth Management Inc. increased its stake in Copart by 365.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock worth $63,000 after acquiring an additional 878 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Transactions at Copart

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

Copart Price Performance

CPRT opened at $30.86 on Tuesday. The stock’s 50 day simple moving average is $32.99 and its 200 day simple moving average is $36.45. Copart, Inc. has a 1 year low of $29.97 and a 1 year high of $50.91. The firm has a market cap of $28.57 billion, a price-to-earnings ratio of 19.17 and a beta of 1.01.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on CPRT shares. Weiss Ratings lowered Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. decreased their target price on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. Barclays restated an “underweight” rating and issued a $32.00 target price (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. Robert W. Baird set a $48.00 target price on Copart and gave the stock an “outperform” rating in a research note on Friday, February 20th. Finally, Jefferies Financial Group set a $45.00 target price on Copart in a research note on Friday, May 22nd. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $44.50.

About Copart

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.