Sugarloaf Wealth Management LLC Lowers Position in Copart, Inc. (NASDAQ:CPRT)

Sugarloaf Wealth Management LLC cut its position in shares of Copart, Inc. (NASDAQ:CPRT) by 5.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,865 shares of the business services provider’s stock after selling 3,802 shares during the quarter. Copart comprises 0.6% of Sugarloaf Wealth Management LLC’s investment portfolio, making the stock its 29th biggest holding. Sugarloaf Wealth Management LLC’s holdings in Copart were worth $3,723,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CPRT. Cadence Bank grew its position in shares of Copart by 0.6% in the 3rd quarter. Cadence Bank now owns 31,549 shares of the business services provider’s stock worth $1,653,000 after buying an additional 178 shares during the period. Duncan Williams Asset Management LLC grew its holdings in Copart by 1.3% in the third quarter. Duncan Williams Asset Management LLC now owns 15,437 shares of the business services provider’s stock worth $809,000 after purchasing an additional 203 shares during the period. Covestor Ltd increased its stake in shares of Copart by 5.1% during the third quarter. Covestor Ltd now owns 4,299 shares of the business services provider’s stock valued at $225,000 after purchasing an additional 209 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Copart by 0.8% during the third quarter. B. Riley Wealth Advisors Inc. now owns 27,631 shares of the business services provider’s stock valued at $1,447,000 after purchasing an additional 213 shares during the last quarter. Finally, Private Advisor Group LLC boosted its position in shares of Copart by 0.9% in the 3rd quarter. Private Advisor Group LLC now owns 26,011 shares of the business services provider’s stock worth $1,363,000 after purchasing an additional 230 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Stock Down 1.9 %

Copart stock traded down $1.08 during trading hours on Friday, hitting $55.70. The stock had a trading volume of 1,704,874 shares, compared to its average volume of 3,451,738. The stock’s 50-day moving average price is $58.81 and its 200-day moving average price is $54.64. The stock has a market capitalization of $53.67 billion, a P/E ratio of 39.23 and a beta of 1.33. Copart, Inc. has a 12-month low of $47.19 and a 12-month high of $64.38.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.37. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.34 EPS. On average, research analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Activity at Copart

In other Copart news, Director Thomas N. Tryforos sold 83,310 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $61.86, for a total value of $5,153,556.60. Following the transaction, the director now directly owns 7,850 shares of the company’s stock, valued at approximately $485,601. This trade represents a 91.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman A Jayson Adair sold 251,423 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the sale, the chairman now directly owns 14,436,557 shares of the company’s stock, valued at $920,907,971.03. The trade was a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 650,213 shares of company stock valued at $39,199,813 over the last ninety days. Insiders own 9.68% of the company’s stock.

Copart Company 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.