Envestnet Asset Management Inc. Buys 21,947 Shares of Copart, Inc. (NASDAQ:CPRT)

Envestnet Asset Management Inc. lifted its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,078,614 shares of the business services provider’s stock after acquiring an additional 21,947 shares during the period. Envestnet Asset Management Inc. owned approximately 0.42% of Copart worth $234,072,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sandy Spring Bank raised its stake in shares of Copart by 59.5% in the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 176 shares during the period. Quarry LP acquired a new stake in Copart in the 3rd quarter valued at approximately $29,000. Curio Wealth LLC bought a new stake in Copart in the 4th quarter valued at approximately $52,000. Retirement Wealth Solutions LLC acquired a new position in Copart during the 4th quarter worth approximately $54,000. Finally, Continuum Advisory LLC boosted its position in Copart by 88.6% during the 3rd quarter. Continuum Advisory LLC now owns 962 shares of the business services provider’s stock worth $55,000 after acquiring an additional 452 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Stock Performance

CPRT opened at $54.51 on Monday. The business’s 50-day simple moving average is $56.23 and its 200 day simple moving average is $56.45. The firm has a market capitalization of $52.66 billion, a PE ratio of 36.58 and a beta of 1.22. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. Copart had a net margin of 32.27% and a return on equity of 19.31%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. On average, research analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Argus lowered shares of Copart from a “buy” rating to a “hold” rating in a research report on Friday, March 14th.

Insider Activity at Copart

In other news, Director James E. Meeks sold 100,000 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total value of $5,400,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.68% of the stock is 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.