Wealthfront Advisers LLC Sells 171,485 Shares of Copart, Inc. (NASDAQ:CPRT)

Wealthfront Advisers LLC cut its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 98.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm 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 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP bought a new position in Copart in the 3rd quarter valued at $29,000. True Wealth Design LLC raised its stake in shares of Copart by 1,737.1% in the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider's stock worth $34,000 after acquiring an additional 608 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new position in shares of Copart during the fourth quarter worth approximately $54,000. Continuum Advisory LLC lifted its position in shares of Copart by 88.6% during the third quarter. Continuum Advisory LLC now owns 962 shares of the business services provider's stock worth $55,000 after purchasing an additional 452 shares in the last quarter. Finally, Eastern Bank lifted its position in shares of Copart by 115.1% during the fourth quarter. Eastern Bank now owns 1,196 shares of the business services provider's stock worth $69,000 after purchasing an additional 640 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company's stock.

Copart Stock Down 0.4 %

NASDAQ CPRT traded down $0.22 during trading hours on Friday, hitting $53.63. The company's stock had a trading volume of 5,952,393 shares, compared to its average volume of 4,194,132. The stock has a fifty day moving average of $56.47 and a 200 day moving average of $55.99. Copart, Inc. has a twelve month low of $48.05 and a twelve month 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.

Remove Ads

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.02. The business 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, analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Insiders Place Their Bets

In other Copart news, Director Daniel J. Englander sold 235,480 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $56.84, for a total value of $13,384,683.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Matt Blunt sold 50,000 shares of the stock in a transaction 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. Over the last three months, insiders have sold 315,480 shares of company stock worth $18,007,983. Company insiders own 9.68% of the company's stock.

Analyst Upgrades and Downgrades

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

About Copart

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.