Sage Private Wealth Group LLC Buys 18,686 Shares of Copart, Inc. $CPRT

Sage Private Wealth Group LLC bought a new stake in Copart, Inc. (NASDAQ:CPRT) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 18,686 shares of the business services provider’s stock, valued at approximately $510,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CPRT. C M Bidwell & Associates Ltd. purchased a new position in shares of Copart during the 2nd quarter worth $25,000. Byrne Asset Management LLC acquired a new position in shares of Copart during the 3rd quarter valued at about $25,000. Versant Capital Management Inc boosted its position in shares of Copart by 110.9% during the 2nd quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 498 shares during the last quarter. Cache Advisors LLC acquired a new position in shares of Copart during the 1st quarter valued at about $31,000. Finally, Cherry Tree Wealth Management LLC grew its holdings in shares of Copart by 14,062.5% in the second quarter. Cherry Tree Wealth Management LLC now owns 1,133 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 1,125 shares during the period. 85.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CPRT shares. Zacks Research upgraded shares of Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, September 7th. JPMorgan Chase & Co. raised shares of Copart from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $32.00 to $40.00 in a research note on Thursday, September 3rd. Stephens reaffirmed an “equal weight” rating and set a $35.00 target price on shares of Copart in a research note on Thursday, August 20th. Freedom Capital upgraded shares of Copart to a “strong-buy” rating in a report on Friday, June 26th. Finally, HSBC lowered shares of Copart from a “buy” rating to a “hold” rating and set a $36.00 target price on the stock. in a report on Wednesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.80.

Insider Activity

In related news, Director Diane Morefield sold 20,000 shares of the business’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $27.66, for a total value of $553,200.00. Following the sale, the director directly owned 50,000 shares in the company, valued at approximately $1,383,000. The trade was a 28.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey Liaw sold 27,745 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the completion of the transaction, the chief executive officer directly owned 99,641 shares in the company, valued at $3,038,054.09. The trade was a 21.78% decrease in their position. The SEC filing for this sale provides additional information. 9.60% of the stock is currently owned by insiders.

Copart Stock Down 0.9%

Shares of Copart stock opened at $27.58 on Thursday. Copart, Inc. has a 52 week low of $25.72 and a 52 week high of $45.76. The business’s fifty day simple moving average is $29.99 and its 200-day simple moving average is $30.69. The firm has a market cap of $25.55 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 1.36 and a beta of 1.06.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, September 10th. The business services provider reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Copart had a return on equity of 15.93% and a net margin of 31.81%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.41 earnings per share. As a group, equities analysts expect that Copart, Inc. will post 1.63 earnings per share for the current year.

About Copart

Copart, Inc is a provider of online vehicle auction and remarketing services. The company operates a digital marketplace that connects vehicle sellers with a broad network of buyers, including licensed dismantlers, rebuilders, used-car dealers, exporters and individual consumers.

Copart primarily sells vehicles that have been damaged, declared total losses by insurers, repossessed, donated or otherwise designated for resale. Its services also include vehicle storage, transportation, towing coordination, title processing, inspection and auction support.