FFT Wealth Management LLC Cuts Holdings in Copart, Inc. (NASDAQ:CPRT)

FFT Wealth Management LLC lowered its stake in Copart, Inc. (NASDAQ:CPRT) by 9.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 354,404 shares of the business services provider’s stock after selling 35,492 shares during the period. Copart accounts for approximately 1.5% of FFT Wealth Management LLC’s holdings, making the stock its 10th biggest holding. FFT Wealth Management LLC’s holdings in Copart were worth $20,339,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Quarry LP bought a new stake in Copart in the third quarter valued at $29,000. Ashton Thomas Securities LLC bought a new stake in Copart in the third quarter valued at $33,000. True Wealth Design LLC boosted its holdings in 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. Retirement Wealth Solutions LLC bought a new stake in Copart in the fourth quarter valued at $54,000. Finally, Continuum Advisory LLC lifted 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 valued at $55,000 after buying an additional 452 shares during the period. Institutional investors own 85.78% of the company’s stock.

Copart Trading Up 0.0 %

Shares of Copart stock opened at $56.77 on Wednesday. The firm has a market capitalization of $54.70 billion, a P/E ratio of 38.10 and a beta of 1.33. The business has a fifty day simple moving average of $57.81 and a two-hundred day simple moving average of $55.82. Copart, Inc. has a 12 month low of $48.05 and a 12 month high of $64.38.

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

Wall Street Analysts Forecast Growth

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

Insider Transactions at Copart

In other news, Director Daniel J. Englander sold 235,480 shares of Copart stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $56.84, for a total value of $13,384,683.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Diane M. Morefield sold 30,000 shares of Copart stock in a transaction dated 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 completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $1,160,200. This represents a 60.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 398,790 shares of company stock valued at $23,161,540 in the last quarter. 9.68% of the stock is owned by insiders.

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.