Vanguard Group Inc. Increases Stake in Copart, Inc. (NASDAQ:CPRT)

Vanguard Group Inc. boosted its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 102,129,032 shares of the business services provider’s stock after acquiring an additional 976,909 shares during the quarter. Vanguard Group Inc. owned 0.11% of Copart worth $5,861,185,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Sandy Spring Bank raised its position in Copart by 59.5% during the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 176 shares in the last quarter. Quarry LP acquired a new stake in Copart in the third quarter valued at approximately $29,000. True Wealth Design LLC grew its holdings in Copart by 1,737.1% in the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 608 shares during the period. Curio Wealth LLC acquired a new stake in Copart in the fourth quarter valued at approximately $52,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in Copart in the fourth quarter valued at approximately $54,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Copart news, Director James E. Meeks sold 100,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total transaction of $5,400,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of Copart 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 385,480 shares of company stock valued at $21,667,683. Insiders own 9.68% of the company’s stock.

Copart Price Performance

Shares of NASDAQ:CPRT opened at $53.63 on Monday. The business’s 50 day moving average price is $56.43 and its 200-day moving average price is $56.03. The firm has a market capitalization of $51.81 billion, a PE ratio of 35.99 and a beta of 1.30. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. The company had revenue of $1.16 billion for 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 expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Argus lowered Copart from a “buy” rating to a “hold” rating in a 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.