Solano Wealth Investment Advisors LLC purchased a new position in Copart, Inc. (NASDAQ:CPRT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,150 shares of the business services provider's stock, valued at approximately $525,000. Copart makes up approximately 0.3% of Solano Wealth Investment Advisors LLC's portfolio, making the stock its 24th biggest holding.
Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Copart by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 102,129,032 shares of the business services provider's stock worth $5,861,185,000 after purchasing an additional 976,909 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Copart by 2.5% during 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 acquiring an additional 941,858 shares during the period. Edgewood Management LLC lifted its position in Copart by 14.1% in the 4th quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider's stock valued at $1,346,548,000 after acquiring an additional 2,907,405 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Copart by 23.3% during the 4th 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 purchasing an additional 3,667,534 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Copart by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 19,172,603 shares of the business services provider's stock valued at $1,097,153,000 after purchasing an additional 408,677 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, Argus downgraded Copart from a "buy" rating to a "hold" rating in a report on Friday, March 14th.
View Our Latest Report on Copart
Insider Activity
In other news, Director Steven D. Cohan sold 94,997 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $60.01, for a total value of $5,700,769.97. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James E. Meeks sold 100,000 shares of Copart stock in a transaction dated Wednesday, March 19th. The stock was 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 ninety days, insiders have sold 200,000 shares of company stock valued at $11,401,000. 9.68% of the stock is owned by company insiders.
Copart Price Performance
NASDAQ:CPRT traded up $0.62 on Tuesday, hitting $60.45. 4,783,585 shares of the company's stock were exchanged, compared to its average volume of 4,404,163. The firm has a 50-day moving average price of $56.14 and a 200-day moving average price of $56.72. Copart, Inc. has a 52 week low of $48.05 and a 52 week high of $64.38. The company has a market cap of $58.40 billion, a P/E ratio of 40.57 and a beta of 1.22.
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. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. On average, research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.
About Copart
(
Free Report)
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.
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