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

Legacy Wealth Asset Management LLC reduced its position in Copart, Inc. (NASDAQ:CPRT) by 8.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 6,601 shares of the business services provider’s stock after selling 625 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Copart were worth $379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Optimum Investment Advisors increased its stake in shares of Copart by 141.5% in the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 300 shares in the last quarter. Eastern Bank purchased a new position in Copart during the third quarter valued at $29,000. Quarry LP acquired a new position in shares of Copart during the 3rd quarter worth about $29,000. Ashton Thomas Securities LLC acquired a new stake in Copart in the 3rd quarter worth about $33,000. Finally, True Wealth Design LLC lifted its position 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 acquiring an additional 608 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Matt Blunt sold 50,000 shares of Copart 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 Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas N. Tryforos sold 83,310 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $61.86, for a total transaction of $5,153,556.60. Following the completion of the transaction, the director now directly owns 7,850 shares of the company’s stock, valued at $485,601. This represents a 91.39 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 650,213 shares of company stock valued at $39,199,813. Company insiders own 9.68% of the company’s stock.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. boosted their price target on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th.

Copart Stock Up 0.9 %

CPRT stock opened at $56.90 on Friday. Copart, Inc. has a 52-week low of $47.51 and a 52-week high of $64.38. The business has a fifty day moving average of $59.07 and a two-hundred day moving average of $54.71. The stock has a market cap of $54.82 billion, a price-to-earnings ratio of 40.07 and a beta of 1.33.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.37. Copart had a return on equity of 18.96% and a net margin of 31.92%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period last year, the company earned $0.34 EPS. The company’s quarterly revenue was up 12.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Copart 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.