Landscape Capital Management L.L.C. Purchases Shares of 71,782 Copart, Inc. $CPRT

Landscape Capital Management L.L.C. purchased a new stake in shares of Copart, Inc. (NASDAQ:CPRT) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 71,782 shares of the business services provider’s stock, valued at approximately $2,024,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC boosted its position in shares of Copart by 92.1% during the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock worth $816,000 after purchasing an additional 6,817 shares during the period. Geneos Wealth Management Inc. increased its holdings 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 valued at $63,000 after purchasing an additional 878 shares during the last quarter. Jump Financial LLC purchased a new stake in Copart in the second quarter valued at approximately $2,677,000. Sei Investments Co. raised its position in Copart by 110.0% in the second quarter. Sei Investments Co. now owns 900,330 shares of the business services provider’s stock valued at $44,179,000 after purchasing an additional 471,571 shares during the period. Finally, Treasurer of the State of North Carolina lifted its stake in Copart by 3.5% during the second quarter. Treasurer of the State of North Carolina now owns 413,083 shares of the business services provider’s stock worth $20,270,000 after purchasing an additional 13,860 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Stock Down 1.5%

Shares of CPRT stock opened at $33.80 on Friday. Copart, Inc. has a 52 week low of $26.81 and a 52 week high of $50.11. The stock has a market capitalization of $31.29 billion, a PE ratio of 20.99 and a beta of 1.01. The firm has a 50 day moving average of $29.49 and a two-hundred day moving average of $32.71.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.41 by $0.02. Copart had a net margin of 33.48% and a return on equity of 16.63%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the firm posted $0.42 earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. Analysts expect that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CPRT shares. Barclays set a $26.00 price target on Copart and gave the stock an “underweight” rating in a research report on Tuesday, July 21st. Freedom Capital raised Copart to a “strong-buy” rating in a research note on Friday, June 26th. Stephens restated an “equal weight” rating and set a $35.00 target price on shares of Copart in a report on Thursday. Jefferies Financial Group set a $45.00 target price on Copart in a research report on Friday, May 22nd. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Copart in a research note on Wednesday, July 29th. Three investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $41.67.

Insider Activity

In related news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total value of $845,945.05. Following the completion of the transaction, the chief executive officer directly owned 99,641 shares in the company, valued at approximately $3,038,054.09. This trade represents a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 9.60% of the company’s stock.

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.