Copart, Inc. (NASDAQ:CPRT) Stock Holdings Decreased by Independent Solutions Wealth Management LLC

Independent Solutions Wealth Management LLC trimmed its stake in Copart, Inc. (NASDAQ:CPRT) by 2.9% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 66,614 shares of the business services provider’s stock after selling 1,965 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Copart were worth $3,491,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Optimum Investment Advisors raised its position in shares of Copart by 141.5% during the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after buying an additional 300 shares in the last quarter. Eastern Bank acquired a new position in shares of Copart during the 3rd quarter valued at $29,000. Quarry LP acquired a new stake in shares of Copart in the third quarter valued at $29,000. Crewe Advisors LLC grew its stake in shares of Copart by 98.6% in the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock worth $31,000 after purchasing an additional 280 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in shares of Copart by 283.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock worth $31,000 after acquiring an additional 425 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling at Copart

In related news, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the transaction, the chairman now owns 14,436,557 shares of the company’s stock, valued at $920,907,971.03. The trade was a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas N. Tryforos sold 83,310 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $61.86, for a total transaction of $5,153,556.60. Following the completion of 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. Insiders own 9.68% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on CPRT. JPMorgan Chase & Co. increased their price target on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Robert W. Baird cut their target price on Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th.

Copart Stock Down 0.4 %

Shares of CPRT stock traded down $0.23 during trading on Thursday, reaching $58.74. The company’s stock had a trading volume of 1,336,448 shares, compared to its average volume of 4,403,717. Copart, Inc. has a one year low of $46.21 and a one year high of $64.38. The company has a market cap of $56.60 billion, a price-to-earnings ratio of 41.37 and a beta of 1.31. The business has a fifty day moving average price of $57.36 and a 200-day moving average price of $54.20.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.37. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.10 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. The company’s revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 EPS. Research analysts anticipate that Copart, Inc. will post 1.57 EPS 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.