Kestra Private Wealth Services LLC Purchases 36,879 Shares of Copart, Inc. $CPRT

Kestra Private Wealth Services LLC grew its position in Copart, Inc. (NASDAQ:CPRT) by 70.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,920 shares of the business services provider’s stock after purchasing an additional 36,879 shares during the period. Kestra Private Wealth Services LLC’s holdings in Copart were worth $2,952,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in CPRT. Brighton Jones LLC increased its stake in 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 last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Copart by 365.8% in 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 last quarter. Jump Financial LLC bought a new position in shares of Copart in the second quarter valued at approximately $2,677,000. Sei Investments Co. increased its position in shares of Copart by 110.0% during the second quarter. Sei Investments Co. now owns 900,330 shares of the business services provider’s stock valued at $44,179,000 after acquiring an additional 471,571 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its position in shares of Copart by 3.5% during the second quarter. Treasurer of the State of North Carolina now owns 413,083 shares of the business services provider’s stock valued at $20,270,000 after acquiring an additional 13,860 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 26,213 shares of the company’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the transaction, the chief executive officer owned 79,532 shares of the company’s stock, valued at $2,638,871.76. This represents a 24.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 9.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Jefferies Financial Group set a $45.00 target price on Copart in a research report on Friday, May 22nd. Finally, Weiss Ratings downgraded shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Two equities research 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 issued a Sell rating to the company. According to data from MarketBeat.com, Copart has an average rating of “Hold” and an average target price of $44.50.

Copart Trading Up 1.7%

NASDAQ:CPRT opened at $30.55 on Friday. Copart, Inc. has a 12 month low of $29.41 and a 12 month high of $50.11. The firm’s 50 day moving average is $32.24 and its 200 day moving average is $35.59. The stock has a market capitalization of $28.29 billion, a PE ratio of 18.98 and a beta of 1.00.

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

Copart 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.