Tema Etfs LLC Has $488,000 Position in Copart, Inc. $CPRT

Tema Etfs LLC trimmed its stake in Copart, Inc. (NASDAQ:CPRT) by 74.8% in the fourth quarter, HoldingsChannel reports. The firm owned 12,475 shares of the business services provider’s stock after selling 36,949 shares during the period. Tema Etfs LLC’s holdings in Copart were worth $488,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CPRT. Cloud Capital Management LLC acquired a new position in shares of Copart during the third quarter valued at about $25,000. Lodestone Wealth Management LLC acquired a new stake in shares of Copart in the 4th quarter valued at about $25,000. Tripletail Wealth Management LLC bought a new stake in Copart in the 3rd quarter valued at about $27,000. LRI Investments LLC increased its position in Copart by 125.2% in the 3rd quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock valued at $29,000 after buying an additional 363 shares in the last quarter. Finally, Cornerstone Planning Group LLC raised its stake in Copart by 54.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock worth $31,000 after buying an additional 256 shares during the period. 85.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CPRT has been the topic of several recent research reports. CJS Securities upgraded Copart to a “strong-buy” rating in a report on Thursday, December 11th. Zacks Research lowered Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 24th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Copart in a report on Monday, March 23rd. JPMorgan Chase & Co. reduced their price target on shares of Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research report on Monday, February 23rd. Finally, Barclays restated an “underweight” rating and set a $32.00 price target (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. Two investment 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 company’s stock. According to MarketBeat, Copart presently has a consensus rating of “Hold” and an average target price of $44.40.

Insider Buying and Selling

In related news, CEO Jeffrey Liaw sold 25,137 shares of Copart stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the sale, the chief executive officer directly owned 55,970 shares in the company, valued at approximately $2,248,314.90. This trade represents a 30.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 9.60% of the company’s stock.

Copart Stock Performance

Shares of CPRT stock opened at $33.40 on Friday. The company has a market capitalization of $32.17 billion, a price-to-earnings ratio of 20.88 and a beta of 1.14. Copart, Inc. has a 52-week low of $32.20 and a 52-week high of $63.85. The company has a 50-day simple moving average of $36.76 and a two-hundred day simple moving average of $39.96.

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

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.