Copart, Inc. $CPRT Shares Sold by Sit Investment Associates Inc.

Sit Investment Associates Inc. trimmed its stake in Copart, Inc. (NASDAQ:CPRT) by 46.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 40,628 shares of the business services provider’s stock after selling 35,575 shares during the period. Sit Investment Associates Inc.’s holdings in Copart were worth $1,591,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lodestone Wealth Management LLC acquired a new stake in Copart in the 4th quarter valued at approximately $25,000. FNY Investment Advisers LLC acquired a new position in Copart during the third quarter worth $36,000. Aventura Private Wealth LLC acquired a new position in Copart during the fourth quarter worth $33,000. Board of the Pension Protection Fund purchased a new position in shares of Copart during the fourth quarter worth $35,000. Finally, Triumph Capital Management boosted its position 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 buying an additional 823 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Copart

In other news, CEO Jeffrey Liaw sold 26,213 shares of Copart stock in a transaction dated 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 transaction, the chief executive officer owned 79,532 shares in the company, valued at approximately $2,638,871.76. This trade represents a 24.79% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 9.60% of the stock is owned by corporate insiders.

Copart Stock Performance

Copart stock opened at $30.23 on Friday. The firm has a market capitalization of $27.99 billion, a P/E ratio of 18.78 and a beta of 1.00. Copart, Inc. has a twelve month low of $29.46 and a twelve month high of $50.11. The stock’s fifty day simple moving average is $32.55 and its 200-day simple moving average is $35.90.

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CPRT shares. JPMorgan Chase & Co. cut their price objective on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Jefferies Financial Group set a $45.00 target price on Copart in a research report on Friday, May 22nd. Weiss Ratings lowered shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Barclays reissued an “underweight” rating and set a $32.00 price target (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Finally, Zacks Research raised shares of Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $44.50.

About Copart

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.