Avantax Advisory Services Inc. Trims Holdings in Copart, Inc. (NASDAQ:CPRT)

Avantax Advisory Services Inc. lessened its stake in Copart, Inc. (NASDAQ:CPRT) by 7.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 16,786 shares of the business services provider’s stock after selling 1,381 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Copart were worth $963,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP acquired a new position in Copart in the third quarter worth $29,000. True Wealth Design LLC raised its holdings in shares of 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 purchasing an additional 608 shares during the period. Continuum Advisory LLC lifted its position in shares of Copart by 88.6% in the 3rd quarter. Continuum Advisory LLC now owns 962 shares of the business services provider’s stock worth $55,000 after buying an additional 452 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new position in shares of Copart in the 4th quarter valued at about $54,000. Finally, Eastern Bank grew its position in shares of Copart by 115.1% during the 4th quarter. Eastern Bank now owns 1,196 shares of the business services provider’s stock valued at $69,000 after buying an additional 640 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling at Copart

In other Copart news, Director Daniel J. Englander sold 235,480 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Diane M. Morefield sold 30,000 shares of Copart stock in a transaction 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 transaction, the director now owns 20,000 shares in the company, valued at approximately $1,160,200. This trade represents a 60.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 315,480 shares of company stock valued at $18,007,983. Company insiders own 9.68% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Argus cut shares of Copart from a “buy” rating to a “hold” rating in a report on Friday, March 14th.

Copart Price Performance

Shares of CPRT stock opened at $53.88 on Thursday. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38. The firm has a market capitalization of $52.05 billion, a price-to-earnings ratio of 36.16 and a beta of 1.30. The business has a 50 day simple moving average of $56.53 and a 200 day simple moving average of $56.00.

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