Wealth Alliance Sells 444 Shares of Copart, Inc. (NASDAQ:CPRT)

Wealth Alliance cut its position in Copart, Inc. (NASDAQ:CPRT) by 8.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,077 shares of the business services provider’s stock after selling 444 shares during the period. Wealth Alliance’s holdings in Copart were worth $291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Cadence Bank raised its stake in shares of Copart by 0.6% during the 3rd quarter. Cadence Bank now owns 31,549 shares of the business services provider’s stock valued at $1,653,000 after purchasing an additional 178 shares during the period. Everpar Advisors LLC increased its stake in Copart by 4.3% in the 4th quarter. Everpar Advisors LLC now owns 4,811 shares of the business services provider’s stock worth $276,000 after acquiring an additional 199 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its stake in Copart by 2.3% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 9,226 shares of the business services provider’s stock worth $529,000 after acquiring an additional 208 shares during the last quarter. Covestor Ltd increased its stake in Copart by 5.1% in the 3rd quarter. Covestor Ltd now owns 4,299 shares of the business services provider’s stock worth $225,000 after acquiring an additional 209 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its stake in Copart by 0.8% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 27,631 shares of the business services provider’s stock worth $1,447,000 after acquiring an additional 213 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

Copart Trading Down 2.8 %

CPRT opened at $56.61 on Friday. The stock has a 50-day moving average price of $57.97 and a 200-day moving average price of $55.65. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38. The stock has a market capitalization of $54.55 billion, a P/E ratio of 39.87 and a beta of 1.33.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Copart had a return on equity of 18.96% and a net margin of 31.92%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. On average, equities research analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Insider Transactions at Copart

In related news, Director Matt Blunt sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $57.66, for a total transaction of $2,883,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thomas N. Tryforos sold 83,310 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $61.86, for a total value of $5,153,556.60. Following the transaction, the director now owns 7,850 shares in the company, valued at approximately $485,601. The trade was a 91.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 650,213 shares of company stock worth $39,199,813. 9.68% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. upped their target price on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th.

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.