Copart, Inc. (NASDAQ:CPRT) Shares Bought by SVB Wealth LLC

SVB Wealth LLC raised its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 11.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 12,167 shares of the business services provider’s stock after buying an additional 1,255 shares during the quarter. SVB Wealth LLC’s holdings in Copart were worth $596,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in CPRT. Nordea Investment Management AB boosted its holdings in Copart by 64.1% in the fourth quarter. Nordea Investment Management AB now owns 1,441,839 shares of the business services provider’s stock valued at $70,448,000 after purchasing an additional 563,233 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Copart by 1.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,848,048 shares of the business services provider’s stock worth $139,554,000 after acquiring an additional 44,248 shares during the period. CHURCHILL MANAGEMENT Corp lifted its holdings in Copart by 57.9% in the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 63,521 shares of the business services provider’s stock valued at $3,113,000 after acquiring an additional 23,304 shares during the period. Artemis Investment Management LLP boosted its position in Copart by 29.0% in the 4th quarter. Artemis Investment Management LLP now owns 1,167,186 shares of the business services provider’s stock worth $57,193,000 after purchasing an additional 262,499 shares in the last quarter. Finally, Checchi Capital Advisers LLC grew its stake in shares of Copart by 72.5% during the 3rd quarter. Checchi Capital Advisers LLC now owns 6,228 shares of the business services provider’s stock worth $268,000 after purchasing an additional 2,618 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Copart

In related news, Director Matt Blunt sold 100,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $51.06, for a total value of $5,106,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Copart news, Director Thomas N. Tryforos sold 285,000 shares of Copart stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the transaction, the director now directly owns 35,000 shares of the company’s stock, valued at $1,934,450. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matt Blunt sold 100,000 shares of the stock in a transaction that occurred on 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. Insiders have sold a total of 985,000 shares of company stock worth $55,519,950 in the last ninety days. Insiders own 10.23% of the company’s stock.

Wall Street Analyst Weigh In

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

Copart Price Performance

Shares of Copart stock opened at $52.88 on Friday. The stock has a market capitalization of $50.84 billion, a P/E ratio of 38.04 and a beta of 1.22. The business has a 50 day simple moving average of $54.34 and a two-hundred day simple moving average of $50.10. Copart, Inc. has a 12 month low of $38.35 and a 12 month high of $58.58.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.02). The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. Copart had a return on equity of 21.55% and a net margin of 33.41%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the firm earned $0.31 EPS. As a group, research analysts anticipate that Copart, Inc. will post 1.42 EPS for the current fiscal year.

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.