Avestar Capital LLC Sells 22,121 Shares of Copart, Inc. $CPRT

Avestar Capital LLC lessened its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 49.8% in the second quarter, Holdings Channel reports. The institutional investor owned 22,293 shares of the business services provider’s stock after selling 22,121 shares during the quarter. Avestar Capital LLC’s holdings in Copart were worth $1,094,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CPRT. Brighton Jones LLC lifted its stake in Copart by 92.1% in 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 in the last quarter. ASR Vermogensbeheer N.V. bought a new position in shares of Copart in the first quarter worth $1,237,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Copart by 4.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 5,742,226 shares of the business services provider’s stock worth $324,954,000 after purchasing an additional 248,553 shares during the period. Chicago Partners Investment Group LLC raised its position in shares of Copart by 32.6% in the first quarter. Chicago Partners Investment Group LLC now owns 8,712 shares of the business services provider’s stock worth $534,000 after buying an additional 2,144 shares in the last quarter. Finally, AlphaCore Capital LLC bought a new stake in Copart during the first quarter valued at $300,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 24,283 shares of the stock in a transaction that occurred on Wednesday, October 15th. The stock was 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 approximately $1,403,360.28. This trade represents a 43.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas N. Tryforos sold 228,840 shares of Copart stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $47.54, for a total value of $10,879,053.60. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 353,123 shares of company stock worth $15,873,689. 9.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CPRT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. decreased their target price on Copart from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday, November 24th. Hsbc Global Res upgraded shares of Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. HSBC set a $62.00 target price on shares of Copart and gave the company a “buy” rating in a research report on Thursday, September 4th. Robert W. Baird decreased their price target on shares of Copart from $55.00 to $52.00 and set an “outperform” rating on the stock in a report on Friday, November 21st. Finally, Stephens lowered their price objective 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. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $47.60.

Copart Price Performance

Shares of CPRT opened at $38.72 on Friday. Copart, Inc. has a 1 year low of $38.61 and a 1 year high of $63.85. The stock has a 50 day simple moving average of $42.37 and a two-hundred day simple moving average of $46.24. The firm has a market cap of $37.48 billion, a P/E ratio of 23.61 and a beta of 1.12.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, November 20th. The business services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. Copart had a net margin of 34.24% and a return on equity of 17.78%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the firm posted $0.37 earnings per share. The business’s revenue was up .7% compared to the same quarter last year. On average, equities analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

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.