Vanguard Group Inc. Raises Holdings in Copart, Inc. (NASDAQ:CPRT)

Vanguard Group Inc. grew its position in Copart, Inc. (NASDAQ:CPRT) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 102,129,032 shares of the business services provider’s stock after buying an additional 976,909 shares during the quarter. Vanguard Group Inc. owned 10.60% of Copart worth $5,861,185,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Sandy Spring Bank lifted its holdings in shares of Copart by 59.5% in the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock worth $27,000 after buying an additional 176 shares during the period. Quarry LP purchased a new stake in shares of Copart in the 3rd quarter worth $29,000. True Wealth Design LLC lifted its stake in shares of Copart by 1,737.1% during the 3rd 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. Curio Wealth LLC purchased a new stake in shares of Copart during the 4th quarter worth $52,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Copart during the 4th quarter worth $54,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director James E. Meeks sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total value of $5,400,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel J. Englander sold 235,480 shares of the firm’s stock in a transaction dated 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. Over the last 90 days, insiders sold 385,480 shares of company stock valued at $21,667,683. 9.68% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Copart Price Performance

Shares of NASDAQ CPRT opened at $53.63 on Monday. The stock has a market capitalization of $51.81 billion, a P/E ratio of 35.99 and a beta of 1.30. Copart, Inc. has a 1-year low of $48.05 and a 1-year high of $64.38. The business has a fifty day moving average price of $56.43 and a 200 day moving average price of $56.03.

Copart (NASDAQ:CPRT) last announced its 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. 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%. As a group, equities research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

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.