Wealthfront Advisers LLC Sells 171,485 Shares of Copart, Inc. (NASDAQ:CPRT)

Wealthfront Advisers LLC cut its stake in Copart, Inc. (NASDAQ:CPRT) by 98.3% during the fourth quarter, HoldingsChannel reports. The firm owned 2,970 shares of the business services provider’s stock after selling 171,485 shares during the period. Wealthfront Advisers LLC’s holdings in Copart were worth $170,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Donaldson Capital Management LLC grew its holdings in Copart by 0.5% during the 4th quarter. Donaldson Capital Management LLC now owns 89,678 shares of the business services provider’s stock worth $5,147,000 after acquiring an additional 472 shares in the last quarter. King Luther Capital Management Corp grew its holdings in Copart by 0.3% during the 4th quarter. King Luther Capital Management Corp now owns 120,329 shares of the business services provider’s stock worth $6,906,000 after acquiring an additional 366 shares in the last quarter. Sage Mountain Advisors LLC grew its holdings in Copart by 0.7% during the 4th quarter. Sage Mountain Advisors LLC now owns 286,201 shares of the business services provider’s stock worth $16,425,000 after acquiring an additional 1,963 shares in the last quarter. Independent Advisor Alliance grew its holdings in Copart by 23.9% during the 4th quarter. Independent Advisor Alliance now owns 11,639 shares of the business services provider’s stock worth $668,000 after acquiring an additional 2,246 shares in the last quarter. Finally, Johnson Investment Counsel Inc. grew its holdings in Copart by 8.3% during the 4th quarter. Johnson Investment Counsel Inc. now owns 15,316 shares of the business services provider’s stock worth $879,000 after acquiring an additional 1,174 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CPRT has been the topic of several recent research reports. Argus cut shares of Copart from a “buy” rating to a “hold” rating in a report on Friday. JPMorgan Chase & Co. increased their target price on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th.

Copart Stock Performance

CPRT stock opened at $53.75 on Tuesday. The firm has a market cap of $51.93 billion, a price-to-earnings ratio of 36.07 and a beta of 1.30. The firm has a 50-day simple moving average of $56.65 and a two-hundred day simple moving average of $56.02. Copart, Inc. has a one year low of $48.05 and a one 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, 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 net margin of 32.27% and a return on equity of 19.31%. As a group, equities analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Copart

In related news, Director Matt Blunt sold 50,000 shares of the 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction 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 $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. Over the last ninety days, insiders sold 315,480 shares of company stock valued at $18,007,983. 9.68% of the stock is currently owned by insiders.

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.