NewEdge Wealth LLC Buys Shares of 7,915 Copart, Inc. (NASDAQ:CPRT)

NewEdge Wealth LLC purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,915 shares of the business services provider’s stock, valued at approximately $388,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Copart by 100.6% during the 3rd quarter. Vanguard Group Inc. now owns 97,512,662 shares of the business services provider’s stock worth $4,201,821,000 after purchasing an additional 48,891,984 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Copart by 96.8% in the 3rd quarter. Principal Financial Group Inc. now owns 39,803,057 shares of the business services provider’s stock valued at $1,715,114,000 after buying an additional 19,576,719 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Copart by 84.4% in the third quarter. Wellington Management Group LLP now owns 17,929,180 shares of the business services provider’s stock valued at $772,568,000 after buying an additional 8,205,757 shares during the period. JPMorgan Chase & Co. raised its position in shares of Copart by 79.1% during the third quarter. JPMorgan Chase & Co. now owns 17,359,152 shares of the business services provider’s stock worth $748,006,000 after acquiring an additional 7,666,881 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Copart by 93.6% in the third quarter. FMR LLC now owns 14,733,860 shares of the business services provider’s stock worth $634,882,000 after acquiring an additional 7,122,991 shares during the period. 85.78% of the stock is currently owned by institutional investors.

Insider Activity

In other Copart news, Chairman A Jayson Adair sold 600,000 shares of the firm’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 transaction, the chairman now directly owns 19,687,980 shares of the company’s stock, valued at $1,137,374,604.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman A Jayson Adair sold 600,000 shares of the company’s stock in a transaction dated 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 owns 19,687,980 shares in the company, valued at approximately $1,137,374,604.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matt Blunt sold 100,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $51.06, for a total transaction of $5,106,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 985,000 shares of company stock worth $55,519,950. Company insiders own 10.23% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on CPRT shares. StockNews.com downgraded shares of Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. increased their price objective on shares of Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $51.00.

Copart Stock Performance

Shares of CPRT stock opened at $54.02 on Thursday. Copart, Inc. has a fifty-two week low of $38.35 and a fifty-two week high of $58.58. The stock has a 50 day simple moving average of $54.26 and a two-hundred day simple moving average of $49.96. The company has a market cap of $51.94 billion, a P/E ratio of 38.86 and a beta of 1.22.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.33 earnings per share 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 company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm earned $0.31 EPS. The business’s revenue was up 6.6% compared to the same quarter last year. On average, research analysts predict that Copart, Inc. will post 1.42 earnings per share for the current year.

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.