Octavia Wealth Advisors LLC Decreases Stock Position in Copart, Inc. (NASDAQ:CPRT)

Octavia Wealth Advisors LLC reduced its position in Copart, Inc. (NASDAQ:CPRT) by 7.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,030 shares of the business services provider’s stock after selling 676 shares during the period. Octavia Wealth Advisors LLC’s holdings in Copart were worth $442,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Quarry LP purchased a new position in Copart in the 1st quarter worth approximately $29,000. Cornerstone Planning Group LLC bought a new stake in Copart in the 2nd quarter worth approximately $38,000. Benjamin F. Edwards & Company Inc. bought a new stake in Copart in the 2nd quarter worth approximately $38,000. Hollencrest Capital Management grew its position in Copart by 92.1% in the 1st quarter. Hollencrest Capital Management now owns 438 shares of the business services provider’s stock worth $33,000 after purchasing an additional 210 shares during the period. Finally, First Capital Advisors Group LLC. bought a new stake in Copart in the 2nd quarter worth approximately $50,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CPRT has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. lifted their target price on shares of Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Copart currently has a consensus rating of “Hold” and a consensus target price of $51.00.

Insider Activity

In other news, Director Matt Blunt sold 100,000 shares of the business’s stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Thomas N. Tryforos sold 285,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $55.27, for a total value of $15,751,950.00. Following the completion of the transaction, the director now owns 35,000 shares of the company’s stock, valued at approximately $1,934,450. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Matt Blunt sold 100,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was 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 in the last 90 days. Company insiders own 10.23% of the company’s stock.

Copart Price Performance

Shares of CPRT stock opened at $54.38 on Wednesday. Copart, Inc. has a 1 year low of $38.35 and a 1 year high of $58.58. The firm has a fifty day moving average price of $54.20 and a 200-day moving average price of $49.93. The company has a market cap of $52.29 billion, a price-to-earnings ratio of 39.12 and a beta of 1.22.

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

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.