Sagespring Wealth Partners LLC Invests $771,000 in Copart, Inc. (NASDAQ:CPRT)

Sagespring Wealth Partners LLC acquired a new position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 13,433 shares of the business services provider's stock, valued at approximately $771,000.

Other institutional investors also recently made changes to their positions in the company. HighPoint Advisor Group LLC raised its stake in Copart by 1.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 9,747 shares of the business services provider's stock worth $577,000 after acquiring an additional 175 shares during the period. Sandy Spring Bank increased its stake in shares of 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 purchasing an additional 176 shares during the period. Lindbrook Capital LLC raised its stake in Copart by 3.2% during the 4th quarter. Lindbrook Capital LLC now owns 6,007 shares of the business services provider's stock valued at $345,000 after acquiring an additional 184 shares in the last quarter. Everpar Advisors LLC lifted its holdings in Copart by 4.3% in the fourth quarter. Everpar Advisors LLC now owns 4,811 shares of the business services provider's stock worth $276,000 after purchasing an additional 199 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of Copart by 0.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 75,170 shares of the business services provider's stock valued at $4,314,000 after acquiring an additional 200 shares during the period. 85.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Transactions at Copart

In other news, Director Steven D. Cohan sold 5,003 shares of the stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $60.01, for a total value of $300,230.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James E. Meeks sold 100,000 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total transaction of $5,400,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 200,000 shares of company stock valued at $11,401,000. 9.68% of the stock is owned by corporate insiders.

Copart Stock Up 0.4 %

Shares of CPRT stock traded up $0.24 during trading hours on Friday, reaching $59.68. 7,558,703 shares of the company's stock were exchanged, compared to its average volume of 4,421,927. The business has a fifty day moving average price of $56.22 and a 200-day moving average price of $56.87. The stock has a market capitalization of $57.66 billion, a P/E ratio of 40.05 and a beta of 1.22. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38.

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