HighTower Advisors LLC Has $33.14 Million Holdings in Copart, Inc. $CPRT

HighTower Advisors LLC decreased its holdings in Copart, Inc. (NASDAQ:CPRT) by 21.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 736,900 shares of the business services provider’s stock after selling 205,816 shares during the quarter. HighTower Advisors LLC’s holdings in Copart were worth $33,138,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cloud Capital Management LLC bought a new stake in shares of Copart in the 3rd quarter valued at about $25,000. Tripletail Wealth Management LLC acquired a new position in shares of Copart in the third quarter worth approximately $27,000. LRI Investments LLC boosted its holdings in Copart by 125.2% in the third quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 363 shares during the last quarter. Creekmur Asset Management LLC boosted its holdings in Copart by 1,063.0% in the second quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 574 shares during the last quarter. Finally, Cornerstone Planning Group LLC increased its position in Copart by 54.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 256 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Price Performance

CPRT stock opened at $37.52 on Wednesday. The company’s 50-day moving average is $39.54 and its 200-day moving average is $42.72. The stock has a market capitalization of $36.32 billion, a PE ratio of 22.88 and a beta of 1.08. Copart, Inc. has a 1 year low of $36.52 and a 1 year high of $63.85.

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

Insiders Place Their Bets

In related news, Director Thomas N. Tryforos sold 100,000 shares of Copart stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total value of $3,907,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey Liaw sold 25,137 shares of the business’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the sale, the chief executive officer owned 55,970 shares of the company’s stock, valued at $2,248,314.90. This trade represents a 30.99% decrease in their position. The SEC filing for this sale provides additional information. 9.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CPRT shares. CJS Securities upgraded shares of Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Robert W. Baird lowered their price objective on Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a research report on Friday, November 21st. Barclays reissued an “underweight” rating and issued a $33.00 price objective (up from $32.00) on shares of Copart in a research note on Friday, November 21st. Finally, JPMorgan Chase & Co. decreased their target price on Copart from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday, November 24th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Copart currently has an average rating of “Moderate Buy” and an average target price of $47.60.

Copart Company Profile

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.