Arkadios Wealth Advisors Cuts Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Arkadios Wealth Advisors lessened its holdings in Copart, Inc. (NASDAQ:CPRT) by 2.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,830 shares of the business services provider’s stock after selling 1,468 shares during the quarter. Arkadios Wealth Advisors’ holdings in Copart were worth $3,032,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Optimum Investment Advisors boosted its holdings in Copart by 141.5% during the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after buying an additional 300 shares in the last quarter. Eastern Bank acquired a new stake in shares of Copart during the 3rd quarter valued at approximately $29,000. Quarry LP purchased a new stake in shares of Copart during the 3rd quarter worth approximately $29,000. Ashton Thomas Securities LLC acquired a new stake in shares of Copart in the 3rd quarter worth approximately $33,000. Finally, True Wealth Design LLC increased its stake in Copart by 1,737.1% in the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 608 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Trading Up 0.9 %

Shares of CPRT opened at $56.90 on Friday. The company has a 50-day moving average of $59.07 and a two-hundred day moving average of $54.71. The stock has a market cap of $54.82 billion, a P/E ratio of 40.07 and a beta of 1.33. Copart, Inc. has a 12-month low of $47.51 and a 12-month high of $64.38.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.10 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 EPS. As a group, analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. upped their target price on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th.

Insider Activity

In other news, Chairman A Jayson Adair sold 251,423 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the sale, the chairman now owns 14,436,557 shares in the company, valued at $920,907,971.03. This trade represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Diane M. Morefield sold 30,000 shares of the company’s 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 completion of the transaction, the director now 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. Insiders have sold 650,213 shares of company stock worth $39,199,813 over the last three months. 9.68% of the stock is currently owned by corporate insiders.

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.