Tema Etfs LLC Boosts Stock Position in Copart, Inc. $CPRT

by · The Cerbat Gem

Tema Etfs LLC lifted its holdings in shares of Copart, Inc. (NASDAQ:CPRT – Free Report) by 59.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 49,424 shares of the business services provider’s stock after buying an additional 18,395 shares during the period. Tema Etfs LLC’s holdings in Copart were worth $2,223,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Tripletail Wealth Management LLC acquired a new position in Copart during the third quarter worth $27,000. Atticus Wealth Management LLC acquired a new stake in shares of Copart in the second quarter valued at about $31,000. Ameritas Advisory Services LLC purchased a new stake in shares of Copart during the second quarter worth about $31,000. Creekmur Asset Management LLC raised its position in shares of Copart by 1,063.0% during the 2nd quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock worth $31,000 after purchasing an additional 574 shares during the last quarter. Finally, Bank of Jackson Hole Trust lifted its stake in Copart by 83.8% in the 2nd quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock valued at $36,000 after buying an additional 335 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Transactions at Copart

In related news, CEO Jeffrey Liaw sold 24,283 shares of the company’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total value of $1,087,635.57. Following the completion of the sale, the chief executive officer owned 31,332 shares of the company’s stock, valued at approximately $1,403,360.28. This represents a 43.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Thomas N. Tryforos sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $39.07, for a total transaction of $3,907,000.00. The SEC filing for this sale provides additional information. Corporate insiders own 9.60% of the company’s stock.

Wall Street Analyst Weigh In

CPRT has been the subject of several research reports. Robert W. Baird cut their price objective on Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, November 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. CJS Securities raised Copart to a “strong-buy” rating in a research note on Thursday, December 11th. Barclays restated an “underweight” rating and issued a $33.00 price objective (up previously from $32.00) on shares of Copart in a report on Friday, November 21st. Finally, JPMorgan Chase & Co. dropped their target price on shares of Copart from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Monday, November 24th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $47.60.

View Our Latest Research Report on CPRT

Copart Stock Performance

NASDAQ:CPRT opened at $39.92 on Tuesday. Copart, Inc. has a one year low of $37.41 and a one year high of $63.85. The stock has a market cap of $38.64 billion, a PE ratio of 24.34 and a beta of 1.10. The stock has a 50 day moving average price of $39.61 and a 200 day moving average price of $44.05.

Copart (NASDAQ:CPRT – Get Free Report) last issued its earnings results on Thursday, November 20th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02. Copart had a return on equity of 17.78% and a net margin of 34.24%.The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the prior year, the business earned $0.37 EPS. The firm’s quarterly revenue was up .7% on a year-over-year basis. As a group, analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Copart Profile

(Free Report)

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.

Further Reading

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