Arkadios Wealth Advisors Buys 641 Shares of Copart, Inc. (NASDAQ:CPRT)

Arkadios Wealth Advisors lifted its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,693 shares of the business services provider’s stock after acquiring an additional 641 shares during the quarter. Arkadios Wealth Advisors’ holdings in Copart were worth $1,945,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. OFI Invest Asset Management purchased a new stake in Copart in the third quarter worth $25,000. Manchester Capital Management LLC boosted its position in Copart by 101.0% in the third quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider’s stock worth $27,000 after purchasing an additional 314 shares during the last quarter. Quarry LP purchased a new position in Copart in the first quarter worth about $29,000. Bell Investment Advisors Inc lifted its position in shares of Copart by 87.1% during the 3rd quarter. Bell Investment Advisors Inc now owns 694 shares of the business services provider’s stock valued at $30,000 after buying an additional 323 shares in the last quarter. Finally, Annapolis Financial Services LLC lifted its position in shares of Copart by 100.0% during the 3rd 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 in the last quarter. Institutional investors own 85.78% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on CPRT. StockNews.com cut Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. JPMorgan Chase & Co. initiated coverage on Copart in a research report on Tuesday, February 27th. They issued a “neutral” rating and a $48.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $50.00.

Insiders Place Their Bets

In other news, Director Matt Blunt sold 100,000 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $51.06, for a total transaction of $5,106,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Chairman A Jayson Adair sold 600,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $57.77, for a total value of $34,662,000.00. Following the sale, the chairman now owns 19,687,980 shares of the company’s stock, valued at $1,137,374,604.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Matt Blunt sold 100,000 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $51.06, for a total transaction of $5,106,000.00. The disclosure for this sale can be found here. Insiders sold a total of 985,000 shares of company stock valued at $55,519,950 over the last 90 days. 10.23% of the stock is owned by company insiders.

Copart Stock Performance

Shares of CPRT traded up $1.13 during trading hours on Friday, hitting $56.87. The stock had a trading volume of 1,747,715 shares, compared to its average volume of 4,705,504. The firm has a 50-day moving average price of $53.14 and a 200 day moving average price of $49.16. Copart, Inc. has a fifty-two week low of $36.78 and a fifty-two week high of $58.58. The firm has a market capitalization of $54.68 billion, a price-to-earnings ratio of 40.73 and a beta of 1.22.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). Copart had a return on equity of 21.55% and a net margin of 33.41%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the company posted $0.31 earnings per share. The business’s revenue was up 6.6% on a year-over-year basis. As a group, analysts predict that Copart, Inc. will post 1.42 EPS for the current fiscal year.

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.