SVB Wealth LLC Makes New Investment in Copart, Inc. (NASDAQ:CPRT)

SVB Wealth LLC bought a new stake in Copart, Inc. (NASDAQ:CPRT) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 68,841 shares of the business services provider’s stock, valued at approximately $3,951,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CPRT. Mn Services Vermogensbeheer B.V. grew its stake in Copart by 2.5% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 339,680 shares of the business services provider’s stock valued at $19,494,000 after purchasing an additional 8,300 shares during the period. National Pension Service boosted its holdings in shares of Copart by 3.2% in the 4th quarter. National Pension Service now owns 1,558,067 shares of the business services provider’s stock worth $89,417,000 after buying an additional 48,334 shares during the last quarter. Kieckhefer Group LLC bought a new position in Copart during the fourth quarter valued at about $3,962,000. Sanctuary Advisors LLC increased its holdings in Copart by 21.2% during the third quarter. Sanctuary Advisors LLC now owns 52,767 shares of the business services provider’s stock worth $2,765,000 after buying an additional 9,222 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Copart by 1.6% in the third quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider’s stock worth $979,547,000 after acquiring an additional 291,580 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Price Performance

Shares of CPRT opened at $54.80 on Friday. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The stock’s fifty day moving average price is $57.62 and its two-hundred day moving average price is $55.89. The firm has a market cap of $52.80 billion, a PE ratio of 36.78 and a beta of 1.33.

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

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. increased their target price on shares of 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 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 completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $1,160,200. This trade represents a 60.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas N. Tryforos sold 83,310 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $61.86, for a total value of $5,153,556.60. Following the sale, the director now owns 7,850 shares in the company, valued at approximately $485,601. The trade was a 91.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 398,790 shares of company stock worth $23,161,540 over the last quarter. Corporate insiders own 9.68% of the company’s stock.

Copart Company 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.