Akre Capital Management LLC Has $308.03 Million Holdings in Copart, Inc. $CPRT

Akre Capital Management LLC boosted its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 85.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,867,967 shares of the business services provider’s stock after buying an additional 3,631,207 shares during the quarter. Copart makes up approximately 3.4% of Akre Capital Management LLC’s investment portfolio, making the stock its 11th largest position. Akre Capital Management LLC’s holdings in Copart were worth $308,031,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Lodestone Wealth Management LLC bought a new stake in shares of Copart during the fourth quarter worth approximately $25,000. FNY Investment Advisers LLC bought a new stake in shares of Copart during the third quarter worth approximately $36,000. Aventura Private Wealth LLC bought a new stake in shares of Copart during the fourth quarter worth approximately $33,000. Board of the Pension Protection Fund bought a new stake in shares of Copart during the fourth quarter worth approximately $35,000. Finally, Triumph Capital Management boosted its holdings in shares of Copart by 424.2% during the fourth quarter. Triumph Capital Management now owns 1,017 shares of the business services provider’s stock worth $40,000 after acquiring an additional 823 shares during the period. Institutional investors own 85.78% of the company’s stock.

Copart Trading Down 1.0%

Shares of CPRT stock opened at $30.75 on Friday. The stock has a market cap of $28.47 billion, a P/E ratio of 19.10 and a beta of 1.00. The stock has a 50 day simple moving average of $32.85 and a 200 day simple moving average of $36.20. Copart, Inc. has a 1 year low of $29.97 and a 1 year high of $50.11.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.02. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Copart had a return on equity of 16.63% and a net margin of 33.48%.The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 earnings per share. Analysts forecast that Copart, Inc. will post 1.58 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Weiss Ratings cut Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Jefferies Financial Group set a $45.00 price objective on Copart in a report on Friday, May 22nd. Robert W. Baird set a $48.00 price objective on Copart and gave the stock an “outperform” rating in a report on Friday, February 20th. Barclays restated 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. Finally, Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Copart currently has an average rating of “Hold” and an average target price of $44.50.

Insider Activity

In related news, CEO Jeffrey Liaw sold 26,213 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total value of $869,747.34. Following the completion of the sale, the chief executive officer directly owned 79,532 shares in the company, valued at approximately $2,638,871.76. The trade was a 24.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 9.60% of the company’s stock.

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.