Copart, Inc. (NASDAQ:CPRT) Shares Sold by BlackDiamond Wealth Management LLC

BlackDiamond Wealth Management LLC decreased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 33.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 9,849 shares of the business services provider’s stock after selling 5,006 shares during the period. BlackDiamond Wealth Management LLC’s holdings in Copart were worth $565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in CPRT. Madison Investment Advisors LLC acquired a new stake in shares of Copart during the 4th quarter worth approximately $253,686,000. Bank of New York Mellon Corp lifted its position in shares of Copart by 23.3% during the 4th quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider’s stock valued at $1,115,664,000 after buying an additional 3,667,534 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Copart by 335.8% during the 3rd quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock valued at $149,471,000 after buying an additional 2,084,626 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Copart during the 4th quarter valued at approximately $69,162,000. Finally, Amundi lifted its position in shares of Copart by 18.2% during the 4th quarter. Amundi now owns 7,080,834 shares of the business services provider’s stock valued at $402,332,000 after buying an additional 1,090,841 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Performance

Shares of CPRT stock opened at $53.75 on Tuesday. The stock’s fifty day moving average is $56.65 and its two-hundred day moving average is $56.02. The firm has a market capitalization of $51.93 billion, a P/E ratio of 36.07 and a beta of 1.30. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CPRT shares. Argus lowered Copart from a “buy” rating to a “hold” rating in a research report on Friday. JPMorgan Chase & Co. increased their target price on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th.

Insider Buying and Selling at Copart

In other Copart news, Director Matt Blunt sold 50,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $57.66, for a total value of $2,883,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 value of $13,384,683.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 315,480 shares of company stock worth $18,007,983. Corporate insiders own 9.68% of the company’s stock.

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.