Meridian Wealth Management LLC Reduces Stake in Copart, Inc. (NASDAQ:CPRT)

Meridian Wealth Management LLC lowered its position in Copart, Inc. (NASDAQ:CPRT) by 48.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,619 shares of the business services provider’s stock after selling 4,262 shares during the period. Meridian Wealth Management LLC’s holdings in Copart were worth $265,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Quarry LP purchased a new stake in Copart in the third quarter valued at approximately $29,000. Ashton Thomas Securities LLC purchased a new stake in Copart in the third quarter valued at approximately $33,000. True Wealth Design LLC boosted its position in Copart by 1,737.1% in the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock valued at $34,000 after buying an additional 608 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new stake in Copart in the fourth quarter valued at approximately $54,000. Finally, Continuum Advisory LLC boosted its position in Copart by 88.6% in the third quarter. Continuum Advisory LLC now owns 962 shares of the business services provider’s stock valued at $55,000 after buying an additional 452 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Trading Up 0.3 %

Shares of NASDAQ:CPRT opened at $54.41 on Thursday. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38. The company has a market capitalization of $52.57 billion, a PE ratio of 36.52 and a beta of 1.30. The business has a 50 day moving average of $57.45 and a two-hundred day moving average of $55.96.

Copart (NASDAQ:CPRT) last announced its quarterly 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 return on equity of 19.31% and a net margin of 32.27%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Equities research analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insider Buying and Selling at Copart

In other news, Director Diane M. Morefield sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $1,160,200. This represents a 60.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Daniel J. Englander sold 235,480 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $56.84, for a total value of $13,384,683.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 315,480 shares of company stock valued at $18,007,983. 9.68% of the stock is owned by company insiders.

Copart Company 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.