Peregrine Investment Management Inc. Has $4.29 Million Position in Copart, Inc. $CPRT

Peregrine Investment Management Inc. lessened its position in Copart, Inc. (NASDAQ:CPRT) by 55.1% in the 3rd quarter, Holdings Channel reports. The firm owned 95,440 shares of the business services provider’s stock after selling 117,040 shares during the period. Copart accounts for approximately 2.1% of Peregrine Investment Management Inc.’s investment portfolio, making the stock its 21st biggest holding. Peregrine Investment Management Inc.’s holdings in Copart were worth $4,292,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of CPRT. Brighton Jones LLC grew its holdings in shares of Copart by 92.1% in the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock valued at $816,000 after buying an additional 6,817 shares during the period. Geneos Wealth Management Inc. raised its stake in Copart by 365.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock worth $63,000 after buying an additional 878 shares during the period. Blue Trust Inc. lifted its holdings in Copart by 15.4% during the second quarter. Blue Trust Inc. now owns 1,742 shares of the business services provider’s stock worth $85,000 after acquiring an additional 232 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in Copart by 6.3% during the second quarter. Sequoia Financial Advisors LLC now owns 25,331 shares of the business services provider’s stock worth $1,243,000 after acquiring an additional 1,510 shares in the last quarter. Finally, Verdence Capital Advisors LLC acquired a new position in Copart in the second quarter valued at about $262,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Price Performance

CPRT stock opened at $36.72 on Friday. The stock has a market capitalization of $35.55 billion, a P/E ratio of 22.39 and a beta of 1.08. Copart, Inc. has a fifty-two week low of $36.52 and a fifty-two week high of $63.85. The business has a 50-day moving average of $39.60 and a 200-day moving average of $42.94.

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, Director Thomas N. Tryforos sold 100,000 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total transaction of $3,907,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey Liaw sold 25,137 shares of the firm’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 completion of the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 9.60% of the company’s stock.

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.