Copart, Inc. (NASDAQ:CPRT) Shares Sold by BlackDiamond Wealth Management LLC

BlackDiamond Wealth Management LLC trimmed its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 33.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,849 shares of the business services provider's stock after selling 5,006 shares during the period. BlackDiamond Wealth Management LLC's holdings in Copart were worth $565,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Principal Financial Group Inc. raised its holdings in Copart by 2.5% in the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider's stock valued at $2,037,130,000 after acquiring an additional 941,858 shares during the last quarter. State Street Corp increased 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 valued at $1,789,877,000 after purchasing an additional 120,939 shares during the last quarter. Edgewood Management LLC lifted its position in Copart by 0.6% during 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 boosted its stake in 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 worth $1,115,664,000 after buying an additional 3,667,534 shares during the last quarter. Finally, Geode Capital Management LLC boosted 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 worth $979,547,000 after buying an additional 291,580 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Insider Buying and Selling at Copart

In other news, Director Diane M. Morefield sold 30,000 shares of the business's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $58.01, for a total value of $1,740,300.00. Following the sale, the director now directly owns 20,000 shares of the company's stock, valued at approximately $1,160,200. The trade was a 60.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matt Blunt sold 50,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $57.66, for a total transaction of $2,883,000.00. The disclosure for this sale can be found here. Insiders have sold 315,480 shares of company stock valued at $18,007,983 over the last 90 days. 9.68% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, Argus lowered Copart from a "buy" rating to a "hold" rating in a report on Friday, March 14th.

Copart Price Performance

Shares of CPRT stock traded down $0.22 during trading on Friday, hitting $53.63. 5,952,411 shares of the stock traded hands, compared to its average volume of 4,025,435. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38. The firm has a market capitalization of $51.81 billion, a P/E ratio of 35.99 and a beta of 1.30. The firm's fifty day moving average price is $56.47 and its 200-day moving average price is $55.99.

Copart (NASDAQ:CPRT - Get Free Report) last posted its 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 the consensus estimate 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 expect that Copart, Inc. will post 1.57 earnings per share for the current year.

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.