Rise Advisors LLC Takes Position in Copart, Inc. (NASDAQ:CPRT)

Rise Advisors LLC acquired a new stake in shares of Copart, Inc. (NASDAQ:CPRT) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 486 shares of the business services provider’s stock, valued at approximately $28,000.

Several other large investors also recently bought and sold shares of the business. Rathbones Group PLC increased its position in Copart by 2.9% in the fourth quarter. Rathbones Group PLC now owns 7,821 shares of the business services provider’s stock worth $383,000 after purchasing an additional 221 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in Copart by 0.9% during the fourth quarter. Panagora Asset Management Inc. now owns 25,133 shares of the business services provider’s stock worth $1,232,000 after buying an additional 226 shares during the period. Savant Capital LLC boosted its stake in Copart by 3.8% during the fourth quarter. Savant Capital LLC now owns 6,933 shares of the business services provider’s stock worth $340,000 after buying an additional 251 shares during the period. First Citizens Bank & Trust Co. boosted its stake in Copart by 3.6% during the fourth quarter. First Citizens Bank & Trust Co. now owns 7,729 shares of the business services provider’s stock worth $379,000 after buying an additional 268 shares during the period. Finally, BSW Wealth Partners boosted its stake in Copart by 4.1% during the fourth quarter. BSW Wealth Partners now owns 6,972 shares of the business services provider’s stock worth $342,000 after buying an additional 277 shares during the period. Institutional investors own 85.78% of the company’s stock.

Copart Trading Down 1.5 %

NASDAQ CPRT opened at $54.01 on Friday. The company’s 50-day moving average price is $54.20 and its 200-day moving average price is $52.32. The stock has a market cap of $51.97 billion, a PE ratio of 38.04 and a beta of 1.26. Copart, Inc. has a 12 month low of $42.41 and a 12 month high of $58.58.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, May 16th. The business services provider reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Copart had a net margin of 33.33% and a return on equity of 20.80%. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.36 earnings per share. As a group, sell-side analysts forecast that Copart, Inc. will post 1.43 earnings per share for the current year.

Insider Transactions at Copart

In other Copart news, Chairman A Jayson Adair sold 600,000 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the transaction, the chairman now directly owns 19,687,980 shares in the company, valued at approximately $1,137,374,604.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 10.23% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lifted their price objective on shares of Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $51.00.

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.