Bellwether Advisors LLC Acquires Shares of 34,889 Copart, Inc. (NASDAQ:CPRT)

Bellwether Advisors LLC bought a new position in Copart, Inc. (NASDAQ:CPRT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 34,889 shares of the business services provider’s stock, valued at approximately $2,002,000.

Several other hedge funds also recently made changes to their positions in the company. Sandy Spring Bank lifted its stake in Copart by 59.5% in the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock valued at $27,000 after buying an additional 176 shares during the last quarter. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Copart in the fourth quarter worth about $45,000. Curio Wealth LLC bought a new stake in Copart during the fourth quarter worth approximately $52,000. Retirement Wealth Solutions LLC acquired a new position in shares of Copart in the 4th quarter worth $54,000. Finally, Eastern Bank lifted its stake in Copart by 115.1% during the fourth quarter. Eastern Bank now owns 1,196 shares of the business services provider’s stock valued at $69,000 after buying an additional 640 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Price Performance

Copart stock opened at $60.90 on Monday. The company’s fifty day moving average price is $56.34 and its two-hundred day moving average price is $57.15. Copart, Inc. has a one year low of $48.05 and a one year high of $64.38. The company has a market capitalization of $58.84 billion, a price-to-earnings ratio of 40.87 and a beta of 1.22.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS 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 net margin of 32.27% and a return on equity of 19.31%. As a group, sell-side analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Argus lowered shares of Copart from a “buy” rating to a “hold” rating in a research report on Friday, March 14th.

Insider Buying and Selling at Copart

In other news, Director James E. Meeks sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total transaction of $5,400,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven D. Cohan sold 5,003 shares of the firm’s stock in a transaction on Friday, April 11th. The stock was sold at an average price of $60.01, for a total transaction of $300,230.03. The disclosure for this sale can be found here. Insiders sold 200,000 shares of company stock worth $11,401,000 over the last ninety days. Company insiders own 9.68% of the company’s stock.

Copart Company 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.