Sovran Advisors LLC Buys New Position in Copart, Inc. (NASDAQ:CPRT)

Sovran Advisors LLC purchased a new position in Copart, Inc. (NASDAQ:CPRT) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 13,757 shares of the business services provider’s stock, valued at approximately $773,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of CPRT. McBroom & Associates LLC lifted its position in shares of Copart by 1.6% during the 4th quarter. McBroom & Associates LLC now owns 155,045 shares of the business services provider’s stock valued at $8,898,000 after acquiring an additional 2,450 shares during the last quarter. Panoramic Capital Partners LLC acquired a new stake in shares of Copart during the fourth quarter worth $484,000. Savant Capital LLC lifted its holdings in shares of Copart by 13.5% during the fourth quarter. Savant Capital LLC now owns 8,725 shares of the business services provider’s stock valued at $501,000 after purchasing an additional 1,035 shares during the last quarter. MFA Wealth Advisors LLC boosted its position in shares of Copart by 10.4% in the 4th quarter. MFA Wealth Advisors LLC now owns 62,347 shares of the business services provider’s stock valued at $3,578,000 after purchasing an additional 5,863 shares during the period. Finally, Kestra Private Wealth Services LLC increased its stake in Copart by 8.3% in the 4th quarter. Kestra Private Wealth Services LLC now owns 14,350 shares of the business services provider’s stock worth $824,000 after purchasing an additional 1,099 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. upped their price objective on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th.

Copart Stock Performance

NASDAQ CPRT opened at $59.23 on Wednesday. The firm’s 50 day moving average price is $58.46 and its two-hundred day moving average price is $55.29. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38. The stock has a market cap of $57.07 billion, a price-to-earnings ratio of 41.71 and a beta of 1.33.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.37. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.10 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. Copart’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 earnings per share. On average, research analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Buying and Selling at Copart

In other news, Chairman A Jayson Adair sold 251,423 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the transaction, the chairman now directly owns 14,436,557 shares in the company, valued at $920,907,971.03. The trade was a 1.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Diane M. Morefield sold 30,000 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $1,160,200. This trade represents a 60.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 650,213 shares of company stock valued at $39,199,813 in the last 90 days. 9.68% of the stock is currently owned by corporate insiders.

Copart Company 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.