Allworth Financial LP Sells 3,404 Shares of Copart, Inc. (NASDAQ:CPRT)

Allworth Financial LP cut its stake in Copart, Inc. (NASDAQ:CPRT) by 10.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,033 shares of the business services provider’s stock after selling 3,404 shares during the period. Allworth Financial LP’s holdings in Copart were worth $1,674,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CPRT. Cadence Bank lifted its stake in shares of Copart by 0.6% in the 3rd quarter. Cadence Bank now owns 31,549 shares of the business services provider’s stock worth $1,653,000 after purchasing an additional 178 shares during the period. Everpar Advisors LLC raised its position in Copart by 4.3% in the fourth quarter. Everpar Advisors LLC now owns 4,811 shares of the business services provider’s stock worth $276,000 after acquiring an additional 199 shares during the period. Fifth Third Wealth Advisors LLC boosted its stake in shares of Copart by 2.3% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 9,226 shares of the business services provider’s stock worth $529,000 after acquiring an additional 208 shares during the last quarter. Covestor Ltd grew its position in shares of Copart by 5.1% during the 3rd quarter. Covestor Ltd now owns 4,299 shares of the business services provider’s stock valued at $225,000 after acquiring an additional 209 shares during the period. Finally, B. Riley Wealth Advisors Inc. increased its stake in shares of Copart by 0.8% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 27,631 shares of the business services provider’s stock worth $1,447,000 after purchasing an additional 213 shares in the last quarter. 85.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. boosted their price target on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th.

Copart Price Performance

Shares of NASDAQ:CPRT opened at $59.59 on Wednesday. The company has a market capitalization of $57.42 billion, a P/E ratio of 41.96 and a beta of 1.33. Copart, Inc. has a 1-year low of $48.05 and a 1-year high of $64.38. The firm’s 50 day simple moving average is $58.20 and its two-hundred day simple moving average is $55.56.

Copart (NASDAQ:CPRT) last released its 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 company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. Copart’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.34 EPS. On average, sell-side analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Transactions at Copart

In other Copart news, Director Thomas N. Tryforos sold 83,310 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $61.86, for a total value of $5,153,556.60. Following the completion of the transaction, the director now directly owns 7,850 shares in the company, valued at $485,601. This represents a 91.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction that occurred 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 sale, the chairman now owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. The trade was a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 650,213 shares of company stock valued at $39,199,813 over the last 90 days. Company insiders own 9.68% of the company’s stock.

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.