NewEdge Wealth LLC Invests $388,000 in Copart, Inc. (NASDAQ:CPRT)

NewEdge Wealth LLC bought a new stake in Copart, Inc. (NASDAQ:CPRT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,915 shares of the business services provider’s stock, valued at approximately $388,000.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Copart by 100.6% during the 3rd quarter. Vanguard Group Inc. now owns 97,512,662 shares of the business services provider’s stock valued at $4,201,821,000 after acquiring an additional 48,891,984 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Copart by 96.8% during the third quarter. Principal Financial Group Inc. now owns 39,803,057 shares of the business services provider’s stock valued at $1,715,114,000 after purchasing an additional 19,576,719 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Copart by 84.4% in the 3rd quarter. Wellington Management Group LLP now owns 17,929,180 shares of the business services provider’s stock valued at $772,568,000 after purchasing an additional 8,205,757 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Copart by 79.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,359,152 shares of the business services provider’s stock worth $748,006,000 after buying an additional 7,666,881 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Copart by 93.6% during the 3rd quarter. FMR LLC now owns 14,733,860 shares of the business services provider’s stock worth $634,882,000 after buying an additional 7,122,991 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Copart

In other Copart news, Chairman A Jayson Adair sold 600,000 shares of Copart stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $57.77, for a total value of $34,662,000.00. Following the transaction, the chairman now owns 19,687,980 shares of the company’s stock, valued at $1,137,374,604.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Copart news, Chairman A Jayson Adair sold 600,000 shares of Copart stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $57.77, for a total value of $34,662,000.00. Following the sale, the chairman now owns 19,687,980 shares of the company’s stock, valued at approximately $1,137,374,604.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matt Blunt sold 100,000 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $51.06, for a total value of $5,106,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 985,000 shares of company stock worth $55,519,950. 10.23% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on CPRT shares. StockNews.com cut Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. upped their target price on shares of Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $51.00.

Copart Trading Down 0.7 %

Copart stock opened at $54.02 on Thursday. The company has a market cap of $51.94 billion, a PE ratio of 38.86 and a beta of 1.22. Copart, Inc. has a 1 year low of $38.35 and a 1 year high of $58.58. The company’s 50-day moving average is $54.26 and its two-hundred day moving average is $49.96.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.02). Copart had a net margin of 33.41% and a return on equity of 21.55%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the company posted $0.31 EPS. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. Research analysts forecast that Copart, Inc. will post 1.42 EPS for the current year.

Copart Profile

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.