Wealth Alliance Sells 1,262 Shares of Copart, Inc. (NASDAQ:CPRT)

Wealth Alliance lowered its stake in Copart, Inc. (NASDAQ:CPRT) by 18.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 5,653 shares of the business services provider’s stock after selling 1,262 shares during the quarter. Wealth Alliance’s holdings in Copart were worth $277,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CPRT. Vanguard Group Inc. boosted its holdings in Copart by 100.6% in the third quarter. Vanguard Group Inc. now owns 97,512,662 shares of the business services provider’s stock valued at $4,201,821,000 after acquiring an additional 48,891,984 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Copart by 96.8% in the third 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 acquiring an additional 19,576,719 shares in the last quarter. Wellington Management Group LLP boosted its holdings in 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 acquiring an additional 8,205,757 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Copart by 79.1% in the third quarter. JPMorgan Chase & Co. now owns 17,359,152 shares of the business services provider’s stock valued at $748,006,000 after acquiring an additional 7,666,881 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of Copart by 93.6% during the 3rd quarter. FMR LLC now owns 14,733,860 shares of the business services provider’s stock valued at $634,882,000 after buying an additional 7,122,991 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling

In related news, Director Matt Blunt sold 100,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $51.06, for a total value of $5,106,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Copart news, Chairman A Jayson Adair sold 600,000 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $57.77, for a total value of $34,662,000.00. Following the completion of the transaction, the chairman now owns 19,687,980 shares of the company’s stock, valued at approximately $1,137,374,604.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Matt Blunt sold 100,000 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $51.06, for a total value 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 quarter. Corporate insiders own 10.23% of the company’s stock.

Copart Price Performance

Shares of Copart stock opened at $53.20 on Friday. The stock has a market cap of $51.15 billion, a price-to-earnings ratio of 38.27 and a beta of 1.22. The firm’s 50-day moving average is $54.31 and its 200 day moving average is $49.98. Copart, Inc. has a 1 year low of $38.35 and a 1 year high of $58.58.

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented 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. boosted their target price on shares of Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $51.00.

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.