Wealth Alliance Has $277,000 Position in Copart, Inc. (NASDAQ:CPRT)

Wealth Alliance cut its position in Copart, Inc. (NASDAQ:CPRT) by 18.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,653 shares of the business services provider’s stock after selling 1,262 shares during the quarter. Wealth Alliance’s holdings in Copart were worth $277,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CPRT. United Asset Strategies Inc. increased its position in Copart by 11.6% during the 4th quarter. United Asset Strategies Inc. now owns 16,885 shares of the business services provider’s stock worth $827,000 after purchasing an additional 1,752 shares in the last quarter. Prosperitas Financial LLC increased its position in Copart by 253.8% during the 4th quarter. Prosperitas Financial LLC now owns 31,588 shares of the business services provider’s stock worth $1,548,000 after purchasing an additional 22,659 shares in the last quarter. SVB Wealth LLC increased its position in Copart by 11.5% during the 4th quarter. SVB Wealth LLC now owns 12,167 shares of the business services provider’s stock worth $596,000 after purchasing an additional 1,255 shares in the last quarter. Donaldson Capital Management LLC increased its position in Copart by 2.2% during the 4th quarter. Donaldson Capital Management LLC now owns 89,803 shares of the business services provider’s stock worth $4,400,000 after purchasing an additional 1,966 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in Copart by 243.3% during the 4th quarter. Mackenzie Financial Corp now owns 3,839,773 shares of the business services provider’s stock worth $188,149,000 after purchasing an additional 2,721,412 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on CPRT. StockNews.com cut shares of Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. upped their price target on shares of Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Four investment 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 company currently has an average rating of “Hold” and a consensus target price of $51.00.

Insider Activity

In other news, Chairman A Jayson Adair sold 600,000 shares of the company’s stock in a transaction 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 sale, the chairman now directly owns 19,687,980 shares of the company’s stock, valued at approximately $1,137,374,604.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Chairman A Jayson Adair sold 600,000 shares of the company’s stock in a transaction 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 sale, the chairman now directly owns 19,687,980 shares of the company’s stock, valued at approximately $1,137,374,604.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Thomas N. Tryforos sold 285,000 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the transaction, the director now directly owns 35,000 shares in the company, valued at $1,934,450. The disclosure for this sale can be found here. In the last three months, insiders have sold 985,000 shares of company stock valued at $55,519,950. 10.23% of the stock is currently owned by insiders.

Copart Stock Performance

Shares of NASDAQ CPRT opened at $53.20 on Friday. Copart, Inc. has a 52-week low of $38.35 and a 52-week high of $58.58. The firm has a 50 day moving average price of $54.31 and a two-hundred day moving average price of $49.98. The stock has a market cap of $51.15 billion, a P/E ratio of 38.27 and a beta of 1.22.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share (EPS) 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 business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the company posted $0.31 earnings per share. The company’s revenue was up 6.6% compared to the same quarter last year. Analysts predict that Copart, Inc. will post 1.42 earnings per share for the current fiscal year.

About Copart

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.