Wealthfront Advisers LLC Lowers Position in Copart, Inc. (NASDAQ:CPRT)

Wealthfront Advisers LLC lessened its stake in Copart, Inc. (NASDAQ:CPRT) by 98.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,970 shares of the business services provider’s stock after selling 171,485 shares during the quarter. Wealthfront Advisers LLC’s holdings in Copart were worth $170,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Principal Financial Group Inc. lifted its holdings in shares of Copart by 2.5% in the third quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock worth $2,037,130,000 after buying an additional 941,858 shares in the last quarter. State Street Corp lifted its holdings in shares of Copart by 0.4% in the third quarter. State Street Corp now owns 34,157,967 shares of the business services provider’s stock worth $1,789,877,000 after buying an additional 120,939 shares in the last quarter. Edgewood Management LLC lifted its holdings in shares of Copart by 0.6% in the third quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider’s stock worth $1,077,119,000 after buying an additional 125,220 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Copart by 23.3% in the fourth quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider’s stock worth $1,115,664,000 after buying an additional 3,667,534 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Copart by 1.6% during the third quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider’s stock valued at $979,547,000 after purchasing an additional 291,580 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Stock Up 2.1 %

CPRT stock opened at $53.75 on Tuesday. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38. The stock has a market capitalization of $51.93 billion, a price-to-earnings ratio of 36.07 and a beta of 1.30. The firm’s fifty day simple moving average is $56.65 and its two-hundred day simple moving average is $56.02.

Copart (NASDAQ:CPRT) last posted 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. Copart had a net margin of 32.27% and a return on equity of 19.31%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. As a group, equities research analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CPRT shares. Argus downgraded shares of Copart from a “buy” rating to a “hold” rating in a research note on Friday. JPMorgan Chase & Co. upped their price target 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.

Insider Buying and Selling at Copart

In other Copart news, Director Matt Blunt sold 50,000 shares of the business’s stock in a transaction on 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 legal filing with the SEC, which is available at the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. Insiders have sold 315,480 shares of company stock worth $18,007,983 over the last quarter. 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.