Copart, Inc. (NASDAQ:CPRT) Position Decreased by FFT Wealth Management LLC

FFT Wealth Management LLC lowered its holdings in Copart, Inc. (NASDAQ:CPRT) by 9.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 354,404 shares of the business services provider’s stock after selling 35,492 shares during the period. Copart makes up 1.5% of FFT Wealth Management LLC’s investment portfolio, making the stock its 10th largest position. FFT Wealth Management LLC’s holdings in Copart were worth $20,339,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Avalon Capital Management purchased a new stake in shares of Copart in the 4th quarter valued at about $234,000. FourThought Financial Partners LLC purchased a new stake in shares of Copart in the 4th quarter valued at about $264,000. Bank of New York Mellon Corp raised its holdings in shares of Copart by 23.3% in the 4th quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider’s stock valued at $1,115,664,000 after acquiring an additional 3,667,534 shares in the last quarter. Edge Capital Group LLC raised its holdings in shares of Copart by 57.1% during the 4th quarter. Edge Capital Group LLC now owns 10,256 shares of the business services provider’s stock valued at $589,000 after buying an additional 3,728 shares in the last quarter. Finally, Crestwood Advisors Group LLC lifted its position in Copart by 7.1% in the 4th quarter. Crestwood Advisors Group LLC now owns 18,513 shares of the business services provider’s stock worth $1,062,000 after buying an additional 1,232 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Stock Up 0.0 %

Copart stock opened at $56.77 on Wednesday. The firm has a fifty day simple moving average of $57.81 and a two-hundred day simple moving average of $55.82. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38. The company has a market capitalization of $54.70 billion, a PE ratio of 38.10 and a beta of 1.33.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. Copart had a return on equity of 19.31% and a net margin of 32.27%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. As a group, equities analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Copart

In other news, Director Matt Blunt sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total value of $2,883,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Diane M. Morefield sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at $1,160,200. This represents a 60.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 398,790 shares of company stock worth $23,161,540. 9.68% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. increased their price target 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.

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.