Sagespring Wealth Partners LLC Makes New Investment in Copart, Inc. (NASDAQ:CPRT)

Sagespring Wealth Partners LLC acquired a new position in shares of Copart, Inc. (NASDAQ:CPRT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 13,433 shares of the business services provider’s stock, valued at approximately $771,000.

Other institutional investors have also added to or reduced their stakes in the company. Sandy Spring Bank lifted its holdings in shares of Copart by 59.5% in the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock worth $27,000 after purchasing an additional 176 shares in the last quarter. Curio Wealth LLC acquired a new position in shares of Copart during the fourth quarter valued at about $52,000. Retirement Wealth Solutions LLC bought a new stake in shares of Copart during the fourth quarter worth about $54,000. Eastern Bank raised its holdings in shares of Copart by 115.1% in the 4th quarter. Eastern Bank now owns 1,196 shares of the business services provider’s stock worth $69,000 after acquiring an additional 640 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new position in Copart in the 4th quarter valued at about $73,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Stock Performance

Copart stock opened at $59.83 on Tuesday. The stock has a market cap of $57.80 billion, a PE ratio of 40.15 and a beta of 1.22. The firm’s 50-day simple moving average is $56.14 and its 200 day simple moving average is $56.72. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38.

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

Analysts Set New Price Targets

Separately, Argus downgraded Copart from a “buy” rating to a “hold” rating in a research note on Friday, March 14th.

Insider Transactions at Copart

In other Copart news, Director James E. Meeks sold 100,000 shares of the firm’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total value of $5,400,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 9.68% of the stock is currently owned by company insiders.

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.