Retirement Guys Formula LLC Buys 1,387 Shares of Copart, Inc. (NASDAQ:CPRT)

Retirement Guys Formula LLC lifted its stake in Copart, Inc. (NASDAQ:CPRT) by 5.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,998 shares of the business services provider’s stock after purchasing an additional 1,387 shares during the quarter. Retirement Guys Formula LLC’s holdings in Copart were worth $1,549,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Cadence Bank lifted its position in Copart by 0.6% in the 3rd quarter. Cadence Bank now owns 31,549 shares of the business services provider’s stock valued at $1,653,000 after acquiring an additional 178 shares in the last quarter. Everpar Advisors LLC lifted its position in Copart by 4.3% in the 4th quarter. Everpar Advisors LLC now owns 4,811 shares of the business services provider’s stock valued at $276,000 after acquiring an additional 199 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its position in Copart by 2.3% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 9,226 shares of the business services provider’s stock valued at $529,000 after acquiring an additional 208 shares in the last quarter. Covestor Ltd lifted its position in Copart by 5.1% in the 3rd quarter. Covestor Ltd now owns 4,299 shares of the business services provider’s stock valued at $225,000 after acquiring an additional 209 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its position in Copart by 0.8% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 27,631 shares of the business services provider’s stock valued at $1,447,000 after acquiring an additional 213 shares in the last quarter. 85.78% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Diane M. Morefield sold 30,000 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $1,160,200. This trade represents a 60.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel J. Englander sold 235,480 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $56.84, for a total value of $13,384,683.20. The disclosure for this sale can be found here. Insiders have sold 650,213 shares of company stock valued at $39,199,813 in the last ninety days. 9.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. upped 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.

Copart Price Performance

NASDAQ CPRT opened at $59.23 on Wednesday. The business’s fifty day moving average price is $58.46 and its 200-day moving average price is $55.29. The stock has a market capitalization of $57.07 billion, a price-to-earnings ratio of 41.71 and a beta of 1.33. Copart, Inc. has a 1-year low of $48.05 and a 1-year high of $64.38.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, meeting the consensus estimate of $0.37. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. The company’s revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 EPS. Equities research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current 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.