Legacy Wealth Asset Management LLC Lowers Stake in Copart, Inc. (NASDAQ:CPRT)

Legacy Wealth Asset Management LLC lowered its position in Copart, Inc. (NASDAQ:CPRT) by 8.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,601 shares of the business services provider’s stock after selling 625 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Copart were worth $379,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CPRT. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Copart by 13.5% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 28,643 shares of the business services provider’s stock worth $1,644,000 after buying an additional 3,411 shares in the last quarter. Outlook Wealth Advisors LLC raised its holdings in shares of Copart by 24.3% during the 4th quarter. Outlook Wealth Advisors LLC now owns 7,830 shares of the business services provider’s stock worth $449,000 after acquiring an additional 1,532 shares in the last quarter. Park Avenue Securities LLC increased its position in Copart by 22.0% in the fourth quarter. Park Avenue Securities LLC now owns 37,315 shares of the business services provider’s stock worth $2,142,000 after purchasing an additional 6,734 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Copart by 10.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,034,053 shares of the business services provider’s stock valued at $231,514,000 after purchasing an additional 365,357 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its holdings in Copart by 2.3% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 9,226 shares of the business services provider’s stock worth $529,000 after purchasing an additional 208 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling at Copart

In other Copart news, Chairman A Jayson Adair sold 251,423 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of Copart stock in a transaction dated Monday, January 6th. The stock was 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. In the last quarter, insiders have sold 650,213 shares of company stock worth $39,199,813. 9.68% of the stock is owned by corporate insiders.

Copart Price Performance

Shares of CPRT stock opened at $56.90 on Friday. The stock’s fifty day moving average price is $59.07 and its 200 day moving average price is $54.71. Copart, Inc. has a 1-year low of $47.51 and a 1-year high of $64.38. The company has a market cap of $54.82 billion, a price-to-earnings ratio of 40.07 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, hitting analysts’ consensus estimates of $0.37. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.10 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. The company’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.34 earnings per share. As a group, equities research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current 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.