Accurate Wealth Management LLC Invests $1.55 Million in Copart, Inc. (NASDAQ:CPRT)

Posted by Sean Solarzano on Mar 18th, 2023

Accurate Wealth Management LLC acquired a new stake in shares of Copart, Inc. (NASDAQ:CPRT – Get Rating) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 25,170 shares of the business services provider’s stock, valued at approximately $1,551,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CPRT. General Partner Inc. purchased a new stake in Copart during the 4th quarter valued at $26,000. SeaCrest Wealth Management LLC bought a new position in Copart in the second quarter valued at about $28,000. Massmutual Trust Co. FSB ADV boosted its position in Copart by 177.4% in the third quarter. Massmutual Trust Co. FSB ADV now owns 294 shares of the business services provider’s stock worth $31,000 after purchasing an additional 188 shares during the last quarter. CI Investments Inc. grew its stake in shares of Copart by 1,003.8% during the 3rd quarter. CI Investments Inc. now owns 287 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 261 shares during the period. Finally, American National Bank lifted its stake in shares of Copart by 2,263.6% in the 4th quarter. American National Bank now owns 520 shares of the business services provider’s stock worth $32,000 after purchasing an additional 498 shares during the period. Institutional investors own 45.14% of the company’s stock.

Insider Transactions at Copart

In related news, Director Matt Blunt sold 30,000 shares of the firm’s stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $69.36, for a total transaction of $2,080,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 11.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CPRT shares. Stephens reissued an “overweight” rating and set a $78.00 price objective on shares of Copart in a research report on Tuesday, February 21st. StockNews.com began coverage on Copart in a research report on Thursday. They issued a “buy” rating for the company. Guggenheim lifted their price objective on Copart from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, February 22nd. Finally, Robert W. Baird increased their target price on shares of Copart from $74.00 to $78.00 and gave the stock an “outperform” rating in a report on Wednesday, February 22nd.

Copart Stock Down 0.4 %

NASDAQ:CPRT traded down $0.29 on Friday, reaching $69.72. 3,868,069 shares of the company’s stock traded hands, compared to its average volume of 1,926,040. The stock has a 50-day simple moving average of $67.40 and a 200-day simple moving average of $61.97. Copart, Inc. has a 12 month low of $51.10 and a 12 month high of $71.68. The firm has a market cap of $33.23 billion, a PE ratio of 30.99 and a beta of 1.21.

Copart (NASDAQ:CPRT – Get Rating) last issued its earnings results on Tuesday, February 21st. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.05. Copart had a return on equity of 22.93% and a net margin of 29.45%. The company had revenue of $956.72 million for the quarter, compared to the consensus estimate of $934.36 million. During the same quarter last year, the company earned $0.55 EPS. On average, equities analysts anticipate that Copart, Inc. will post 2.34 earnings per share for the current year.

Copart Profile

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Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.