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

BlackDiamond Wealth Management LLC cut its holdings in Copart, Inc. (NASDAQ:CPRT) by 33.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,849 shares of the business services provider’s stock after selling 5,006 shares during the quarter. BlackDiamond Wealth Management LLC’s holdings in Copart were worth $565,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CPRT. Quarry LP purchased a new stake in shares of Copart during the third quarter valued at about $29,000. True Wealth Design LLC lifted its position in shares of Copart by 1,737.1% during the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock valued at $34,000 after buying an additional 608 shares during the last quarter. Curio Wealth LLC purchased a new stake in shares of Copart during the fourth quarter valued at about $52,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Copart during the fourth quarter valued at about $54,000. Finally, Continuum Advisory LLC lifted its position in shares of Copart by 88.6% during the third quarter. Continuum Advisory LLC now owns 962 shares of the business services provider’s stock valued at $55,000 after buying an additional 452 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. 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. Argus downgraded shares of Copart from a “buy” rating to a “hold” rating in a report on Friday.

Insider Buying and Selling

In related news, Director Diane M. Morefield sold 30,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $58.01, for a total value of $1,740,300.00. Following the transaction, the director now owns 20,000 shares in the company, valued at approximately $1,160,200. This represents a 60.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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. In the last quarter, insiders have sold 315,480 shares of company stock worth $18,007,983. 9.68% of the stock is owned by company insiders.

Copart Stock Up 2.1 %

CPRT opened at $53.75 on Tuesday. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38. The company has a market cap of $51.93 billion, a P/E ratio of 36.07 and a beta of 1.30. The firm’s 50-day moving average price is $56.65 and its 200-day moving average price is $56.02.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. Copart had a net margin of 32.27% and a return on equity of 19.31%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. On average, research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal 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.