Octavia Wealth Advisors LLC Cuts Stake in Copart, Inc. (NASDAQ:CPRT)

Octavia Wealth Advisors LLC cut its holdings in Copart, Inc. (NASDAQ:CPRT) by 22.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,916 shares of the business services provider’s stock after selling 1,714 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Copart were worth $340,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. AE Wealth Management LLC purchased a new position in Copart in the second quarter valued at about $521,000. Pacer Advisors Inc. raised its stake in shares of Copart by 2.1% during the 2nd quarter. Pacer Advisors Inc. now owns 117,840 shares of the business services provider’s stock worth $6,382,000 after buying an additional 2,395 shares during the period. Thrivent Financial for Lutherans increased its position in shares of Copart by 267.4% during the second quarter. Thrivent Financial for Lutherans now owns 144,522 shares of the business services provider’s stock worth $7,827,000 after purchasing an additional 105,181 shares in the last quarter. Summit Trail Advisors LLC grew its holdings in Copart by 7.5% in the 2nd quarter. Summit Trail Advisors LLC now owns 8,955 shares of the business services provider’s stock valued at $485,000 after buying an additional 627 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in Copart by 68.5% in the 2nd quarter. Public Sector Pension Investment Board now owns 34,840 shares of the business services provider’s stock valued at $1,887,000 after buying an additional 14,158 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Trading Up 0.9 %

Copart stock opened at $57.44 on Wednesday. The firm has a market capitalization of $55.35 billion, a P/E ratio of 40.45 and a beta of 1.33. The stock has a fifty day moving average price of $59.08 and a 200 day moving average price of $54.76. Copart, Inc. has a 52 week low of $47.73 and a 52 week high of $64.38.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, hitting analysts’ consensus estimates of $0.37. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.10 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. Copart’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 EPS. As a group, equities analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Insider Transactions at Copart

In other Copart news, Chairman A Jayson Adair sold 251,423 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the transaction, the chairman now directly owns 14,436,557 shares in the company, valued at $920,907,971.03. This trade represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Diane M. Morefield sold 30,000 shares of Copart stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the sale, 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 a total of 650,213 shares of company stock valued at $39,199,813 in the last three months. 9.68% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

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.