Spire Wealth Management Increases Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Spire Wealth Management increased its position in Copart, Inc. (NASDAQ:CPRTFree Report) by 36.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 102,872 shares of the business services provider’s stock after buying an additional 27,549 shares during the quarter. Spire Wealth Management’s holdings in Copart were worth $4,433,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CPRT. OFI Invest Asset Management acquired a new stake in shares of Copart in the third quarter valued at $25,000. Quarry LP acquired a new stake in shares of Copart in the first quarter valued at $29,000. Annapolis Financial Services LLC lifted its holdings in shares of Copart by 100.0% in the third quarter. Annapolis Financial Services LLC now owns 720 shares of the business services provider’s stock valued at $31,000 after buying an additional 360 shares during the period. Hollencrest Capital Management lifted its holdings in shares of Copart by 92.1% in the first quarter. Hollencrest Capital Management now owns 438 shares of the business services provider’s stock valued at $33,000 after buying an additional 210 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Copart by 100.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 800 shares of the business services provider’s stock valued at $34,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds own 79.26% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on CPRT shares. StockNews.com raised Copart from a “hold” rating to a “buy” rating in a report on Monday, October 30th. HSBC started coverage on Copart in a report on Monday, December 4th. They set a “hold” rating and a $51.00 target price for the company. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.50.

Get Our Latest Analysis on Copart

Insider Activity at Copart

In other Copart news, Director Daniel J. Englander sold 320,000 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $47.04, for a total value of $15,052,800.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Copart news, Chairman Willis J. Johnson sold 100,765 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $49.83, for a total value of $5,021,119.95. Following the transaction, the chairman now directly owns 50,681,963 shares of the company’s stock, valued at approximately $2,525,482,216.29. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Daniel J. Englander sold 320,000 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $47.04, for a total value of $15,052,800.00. The disclosure for this sale can be found here. 10.23% of the stock is owned by insiders.

Copart Trading Up 1.7 %

NASDAQ:CPRT opened at $50.03 on Monday. The firm has a market capitalization of $48.04 billion, a price-to-earnings ratio of 36.65 and a beta of 1.22. Copart, Inc. has a 1-year low of $33.62 and a 1-year high of $51.53. The business’s fifty day moving average price is $48.61 and its 200 day moving average price is $48.48.

Copart (NASDAQ:CPRTGet Free Report) last posted its quarterly earnings results on Thursday, November 16th. The business services provider reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $987.90 million. Copart had a return on equity of 22.45% and a net margin of 33.14%. Copart’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 earnings per share. Equities analysts forecast that Copart, Inc. will post 1.45 earnings per share for the current year.

Copart Company Profile

(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.

Further Reading

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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