SVB Wealth LLC Takes $3.95 Million Position in Copart, Inc. (NASDAQ:CPRT)

SVB Wealth LLC acquired a new position in Copart, Inc. (NASDAQ:CPRT) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 68,841 shares of the business services provider’s stock, valued at approximately $3,951,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Dynasty Wealth Management LLC boosted its position in Copart by 7.0% during the fourth quarter. Dynasty Wealth Management LLC now owns 14,086 shares of the business services provider’s stock valued at $808,000 after acquiring an additional 927 shares during the last quarter. Fielder Capital Group LLC bought a new stake in Copart in the fourth quarter worth approximately $207,000. Prosperitas Financial LLC lifted its stake in Copart by 6.6% in the fourth quarter. Prosperitas Financial LLC now owns 46,673 shares of the business services provider’s stock valued at $2,679,000 after buying an additional 2,881 shares during the period. QRG Capital Management Inc. grew its position in shares of Copart by 3.0% during the 4th quarter. QRG Capital Management Inc. now owns 112,100 shares of the business services provider’s stock worth $6,433,000 after buying an additional 3,220 shares during the period. Finally, Proficio Capital Partners LLC bought a new stake in shares of Copart in the 4th quarter valued at $13,435,000. 85.78% of the stock is currently owned by institutional investors.

Copart Stock Performance

Shares of Copart stock opened at $54.80 on Friday. The stock has a market capitalization of $52.80 billion, a PE ratio of 36.78 and a beta of 1.33. Copart, Inc. has a 52 week low of $48.05 and a 52 week high of $64.38. The stock has a 50 day moving average price of $57.62 and a two-hundred day moving average price of $55.89.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. Copart had a net margin of 32.27% and a return on equity of 19.31%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Research analysts forecast that Copart, Inc. will post 1.57 EPS for the current year.

Insider Activity

In other news, Director Thomas N. Tryforos sold 83,310 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $61.86, for a total value of $5,153,556.60. Following the completion of the sale, the director now directly owns 7,850 shares of the company’s stock, valued at $485,601. This represents a 91.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Diane M. Morefield sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $58.01, for a total value of $1,740,300.00. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at $1,160,200. This represents a 60.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 398,790 shares of company stock worth $23,161,540 over the last three months. 9.68% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. increased their target price on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th.

About Copart

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.