Copart, Inc. (NASDAQ:CPRT) Shares Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lifted its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 22.2% during the 4th quarter, HoldingsChannel reports. The firm owned 20,196 shares of the business services provider’s stock after purchasing an additional 3,670 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Copart were worth $1,159,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Quarry LP acquired a new position in Copart during the third quarter worth $29,000. True Wealth Design LLC grew its holdings in shares of Copart by 1,737.1% in the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 608 shares during the period. Continuum Advisory LLC increased its position in Copart by 88.6% during the third quarter. Continuum Advisory LLC now owns 962 shares of the business services provider’s stock worth $55,000 after purchasing an additional 452 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new position in Copart during the fourth quarter worth about $54,000. Finally, Eastern Bank grew its stake in shares of Copart by 115.1% in the 4th quarter. Eastern Bank now owns 1,196 shares of the business services provider’s stock valued at $69,000 after buying an additional 640 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Stock Performance

Copart stock opened at $52.65 on Friday. The company has a market capitalization of $50.86 billion, a price-to-earnings ratio of 35.34 and a beta of 1.30. The company’s 50 day simple moving average is $56.71 and its 200-day simple moving average is $55.99. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $1.13 billion. Equities analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on CPRT. Argus lowered shares of Copart from a “buy” rating to a “hold” rating in a research report on Friday. JPMorgan Chase & Co. upped their price target on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th.

Insider Buying and Selling

In other news, Director Matt Blunt sold 50,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was 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 available through this hyperlink. Also, Director Diane M. Morefield sold 30,000 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $58.01, for a total value of $1,740,300.00. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $1,160,200. The trade was a 60.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 315,480 shares of company stock valued at $18,007,983. Corporate insiders own 9.68% of the company’s stock.

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.