Moran Wealth Management LLC Sells 502 Shares of Copart, Inc. (NASDAQ:CPRT)

Moran Wealth Management LLC lowered its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 0.5% during the fourth quarter, Holdings Channel reports. The fund owned 107,528 shares of the business services provider’s stock after selling 502 shares during the period. Moran Wealth Management LLC’s holdings in Copart were worth $6,171,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Copart by 9.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 206,858 shares of the business services provider’s stock worth $11,872,000 after acquiring an additional 18,581 shares during the last quarter. OFI Invest Asset Management bought a new stake in Copart during the 4th quarter worth about $2,825,000. Amundi grew its holdings in Copart by 18.2% during the 4th quarter. Amundi now owns 7,080,834 shares of the business services provider’s stock worth $402,332,000 after acquiring an additional 1,090,841 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its holdings in Copart by 29.0% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 11,995 shares of the business services provider’s stock worth $688,000 after acquiring an additional 2,694 shares during the last quarter. Finally, River Global Investors LLP bought a new stake in Copart during the 4th quarter worth about $17,762,000. Institutional investors own 85.78% of the company’s stock.

Insider Activity

In other news, Director Daniel J. Englander sold 235,480 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $56.84, for a total value of $13,384,683.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Diane M. Morefield sold 30,000 shares of Copart stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at $1,160,200. The trade was a 60.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 315,480 shares of company stock valued at $18,007,983. 9.68% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. increased their price objective 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 Trading Down 1.7 %

Shares of NASDAQ CPRT opened at $52.82 on Tuesday. The firm has a market capitalization of $51.03 billion, a PE ratio of 35.45 and a beta of 1.30. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The firm’s 50-day moving average is $57.05 and its 200-day moving average is $56.01.

Copart (NASDAQ:CPRT) last issued its earnings results 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. 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 research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal 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.