Copart, Inc. (NASDAQ:CPRT) Stock Holdings Lifted by True Wealth Design LLC

True Wealth Design LLC increased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 1,737.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 643 shares of the business services provider’s stock after acquiring an additional 608 shares during the quarter. True Wealth Design LLC’s holdings in Copart were worth $34,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in shares of Copart by 2.5% in the third quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock valued at $2,037,130,000 after purchasing an additional 941,858 shares in the last quarter. Edgewood Management LLC raised its position in Copart by 0.6% during the third quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider’s stock valued at $1,077,119,000 after buying an additional 125,220 shares during the period. Bank of New York Mellon Corp lifted its stake in Copart by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider’s stock worth $867,017,000 after acquiring an additional 1,199,781 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Copart by 0.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,898,956 shares of the business services provider’s stock worth $427,807,000 after acquiring an additional 30,454 shares during the period. Finally, Legal & General Group Plc grew its stake in Copart by 9.4% during the 2nd quarter. Legal & General Group Plc now owns 6,943,042 shares of the business services provider’s stock valued at $376,035,000 after acquiring an additional 598,566 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Robert W. Baird reduced their price target on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. JPMorgan Chase & Co. increased their target price on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th.

Copart Price Performance

CPRT opened at $63.39 on Monday. The company has a market capitalization of $61.08 billion, a PE ratio of 44.64 and a beta of 1.27. Copart, Inc. has a fifty-two week low of $46.21 and a fifty-two week high of $64.38. The business has a 50-day moving average of $55.06 and a 200-day moving average of $53.50.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. Copart’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 EPS. On average, equities research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Activity at Copart

In other news, Chairman A Jayson Adair sold 251,423 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total value of $16,038,273.17. Following the sale, the chairman now owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. This trade represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 9.68% of the stock is currently owned by company insiders.

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.