Sagespring Wealth Partners LLC Acquires 15,495 Shares of Copart, Inc. $CPRT

Sagespring Wealth Partners LLC boosted its stake in Copart, Inc. (NASDAQ:CPRT) by 109.7% in the fourth quarter, HoldingsChannel reports. The firm owned 29,626 shares of the business services provider’s stock after buying an additional 15,495 shares during the period. Sagespring Wealth Partners LLC’s holdings in Copart were worth $1,160,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CPRT. Norges Bank bought a new position in shares of Copart in the second quarter valued at $549,448,000. AQR Capital Management LLC boosted its position in Copart by 298.2% in the third quarter. AQR Capital Management LLC now owns 4,887,359 shares of the business services provider’s stock worth $217,243,000 after purchasing an additional 3,660,031 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Copart by 2,266.7% in the 3rd quarter. Van ECK Associates Corp now owns 3,689,003 shares of the business services provider’s stock worth $165,895,000 after buying an additional 3,533,133 shares during the last quarter. Akre Capital Management LLC boosted its stake in Copart by 253.1% in the third quarter. Akre Capital Management LLC now owns 4,236,760 shares of the business services provider’s stock valued at $190,527,000 after acquiring an additional 3,036,760 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in Copart by 75.2% in the second quarter. First Trust Advisors LP now owns 6,579,404 shares of the business services provider’s stock valued at $322,851,000 after purchasing an additional 2,824,991 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Performance

CPRT opened at $32.84 on Monday. The stock has a market capitalization of $31.63 billion, a PE ratio of 20.52 and a beta of 1.09. The stock’s 50 day moving average price is $38.15 and its 200-day moving average price is $40.84. Copart, Inc. has a 52-week low of $32.20 and a 52-week high of $63.85.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.15 billion. Copart had a net margin of 33.76% and a return on equity of 16.68%. The business’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 EPS. Research analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 25,137 shares of the firm’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $40.17, for a total value of $1,009,753.29. Following the completion of the sale, the chief executive officer directly owned 55,970 shares of the company’s stock, valued at approximately $2,248,314.90. This trade represents a 30.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 9.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Barclays reaffirmed an “underweight” rating and set a $32.00 price objective (down from $33.00) on shares of Copart in a report on Monday, February 23rd. JPMorgan Chase & Co. dropped their price objective on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. CJS Securities upgraded shares of Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Robert W. Baird set a $48.00 price target on Copart and gave the stock an “outperform” rating in a research note on Friday, February 20th. Finally, Zacks Research lowered shares of Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 24th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Copart presently has a consensus rating of “Hold” and a consensus price target of $44.40.

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.