Sage Mountain Advisors LLC Grows Stake in Copart, Inc. (NASDAQ:CPRT)

Sage Mountain Advisors LLC lifted its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 286,201 shares of the business services provider’s stock after purchasing an additional 1,963 shares during the period. Copart comprises 1.2% of Sage Mountain Advisors LLC’s investment portfolio, making the stock its 14th biggest position. Sage Mountain Advisors LLC’s holdings in Copart were worth $16,425,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of CPRT. Quarry LP purchased a new stake in shares of Copart during the third quarter worth about $29,000. Ashton Thomas Securities LLC acquired a new position in Copart during the third quarter worth about $33,000. True Wealth Design LLC boosted its position in Copart by 1,737.1% during the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock worth $34,000 after acquiring an additional 608 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new position in Copart during the fourth quarter worth about $54,000. Finally, Continuum Advisory LLC boosted 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 acquiring an additional 452 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

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.

Insider Buying and Selling at Copart

In other news, Director Diane M. Morefield sold 30,000 shares of the business’s 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 sale, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $1,160,200. The trade was a 60.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel J. Englander sold 235,480 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were 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. Insiders have sold 315,480 shares of company stock worth $18,007,983 in the last ninety days. 9.68% of the stock is owned by insiders.

Copart Price Performance

NASDAQ:CPRT opened at $52.82 on Tuesday. The firm has a market capitalization of $51.03 billion, a price-to-earnings ratio of 35.45 and a beta of 1.30. The company’s 50-day moving average is $57.05 and its two-hundred day moving average is $56.01. Copart, Inc. has a 1-year low of $48.05 and a 1-year high of $64.38.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.02. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. As a group, equities analysts anticipate that Copart, Inc. will post 1.57 earnings per share 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.