Kestra Investment Management LLC Buys 2,880 Shares of Copart, Inc. (NASDAQ:CPRT)

Kestra Investment Management LLC grew its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 45.3% in the fourth quarter, Holdings Channel reports. The fund owned 9,231 shares of the business services provider’s stock after acquiring an additional 2,880 shares during the quarter. Kestra Investment Management LLC’s holdings in Copart were worth $530,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of CPRT. Eastern Bank bought a new position in shares of Copart during the 3rd quarter valued at approximately $29,000. Quarry LP bought a new position in shares of Copart during the 3rd quarter valued at approximately $29,000. Ashton Thomas Securities LLC bought a new position in shares of Copart during the 3rd quarter valued at approximately $33,000. True Wealth Design LLC grew its position in shares of Copart by 1,737.1% during the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 608 shares during the period. Finally, Retirement Wealth Solutions LLC bought a new position in shares of Copart during the 4th quarter valued at approximately $54,000. 85.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Copart news, Chairman A Jayson Adair sold 251,423 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total value of $16,038,273.17. Following the sale, the chairman now directly owns 14,436,557 shares in the company, valued at $920,907,971.03. This represents a 1.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel J. Englander sold 235,480 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. Insiders have sold 650,213 shares of company stock worth $39,199,813 in the last three months. 9.68% of the stock is currently owned by corporate insiders.

Copart Trading Up 0.3 %

Shares of CPRT stock opened at $59.59 on Wednesday. The stock has a market capitalization of $57.42 billion, a P/E ratio of 41.96 and a beta of 1.33. The firm’s 50 day moving average is $58.20 and its 200 day moving average is $55.56. Copart, Inc. has a 12 month low of $48.05 and a 12 month high of $64.38.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 EPS 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 was up 12.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.34 EPS. On average, equities analysts predict that Copart, Inc. will post 1.57 EPS 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.