Independent Advisor Alliance Has $668,000 Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Independent Advisor Alliance increased its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 23.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,639 shares of the business services provider’s stock after purchasing an additional 2,246 shares during the period. Independent Advisor Alliance’s holdings in Copart were worth $668,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its holdings in shares of Copart by 23.3% during the fourth 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 purchasing an additional 3,667,534 shares during the period. Franklin Resources Inc. grew its stake in shares of Copart by 335.8% in 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 during the period. Raymond James Financial Inc. acquired a new position in Copart during the 4th quarter worth approximately $69,162,000. Amundi boosted its holdings in Copart by 18.2% in the fourth quarter. Amundi now owns 7,080,834 shares of the business services provider’s stock worth $402,332,000 after acquiring an additional 1,090,841 shares in the last quarter. Finally, PineStone Asset Management Inc. grew its stake in Copart by 192.4% in the fourth quarter. PineStone Asset Management Inc. now owns 1,585,400 shares of the business services provider’s stock valued at $90,986,000 after acquiring an additional 1,043,200 shares during the period. 85.78% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Matt Blunt sold 50,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total transaction of $2,883,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Diane M. Morefield sold 30,000 shares of Copart stock in a transaction dated 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 completion of the sale, the director now directly owns 20,000 shares in the company, valued at approximately $1,160,200. This represents a 60.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 315,480 shares of company stock valued at $18,007,983 in the last 90 days. 9.68% of the stock is currently owned by corporate insiders.

Copart Stock Up 0.7 %

Shares of NASDAQ:CPRT opened at $52.65 on Monday. The business’s 50 day moving average is $56.71 and its 200 day moving average is $56.01. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38. The stock has a market cap of $50.86 billion, a price-to-earnings ratio of 35.34 and a beta of 1.30.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. As a group, equities research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Analysts Set New Price Targets

CPRT has been the topic of a number of research reports. Argus lowered Copart from a “buy” rating to a “hold” rating in a research report on Friday. JPMorgan Chase & Co. raised their price objective on shares of Copart from $55.00 to $60.00 and gave the company 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.