Avantax Advisory Services Inc. Lowers Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Avantax Advisory Services Inc. cut its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 7.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,786 shares of the business services provider’s stock after selling 1,381 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Copart were worth $963,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in CPRT. Quarry LP purchased a new position in shares of Copart during the 3rd quarter worth about $29,000. True Wealth Design LLC increased its position in Copart by 1,737.1% during the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock worth $34,000 after purchasing an additional 608 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new position in Copart during the fourth quarter worth approximately $54,000. Continuum Advisory LLC boosted its holdings in shares of Copart by 88.6% in the 3rd quarter. Continuum Advisory LLC now owns 962 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 452 shares during the last quarter. Finally, Eastern Bank boosted its holdings in shares of Copart by 115.1% in the 4th quarter. Eastern Bank now owns 1,196 shares of the business services provider’s stock valued at $69,000 after purchasing an additional 640 shares during the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Copart

In related news, Director Diane M. Morefield sold 30,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the completion of the sale, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $1,160,200. This trade represents a 60.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel J. Englander sold 235,480 shares of Copart stock in a transaction on Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. In the last three months, insiders sold 315,480 shares of company stock worth $18,007,983. Corporate insiders own 9.68% of the company’s stock.

Wall Street Analyst Weigh In

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

Copart Stock Performance

CPRT opened at $53.88 on Thursday. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The firm has a 50 day moving average price of $56.53 and a 200 day moving average price of $56.00. The company has a market cap of $52.05 billion, a PE ratio of 36.16 and a beta of 1.30.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.02. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. On average, sell-side analysts predict that Copart, Inc. will post 1.57 earnings per share for the current 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.