Trueblood Wealth Management LLC Makes New $436,000 Investment in Copart, Inc. (NASDAQ:CPRT)

Trueblood Wealth Management LLC acquired a new stake in shares of Copart, Inc. (NASDAQ:CPRT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,904 shares of the business services provider’s stock, valued at approximately $436,000.

Other institutional investors have also recently made changes to their positions in the company. OFI Invest Asset Management bought a new position in shares of Copart during the third quarter valued at approximately $25,000. Manchester Capital Management LLC grew its stake in shares of Copart by 101.0% in the third quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider’s stock worth $27,000 after acquiring an additional 314 shares during the last quarter. Quarry LP purchased a new stake in shares of Copart in the first quarter worth $29,000. Bell Investment Advisors Inc grew its stake in shares of Copart by 87.1% in the third quarter. Bell Investment Advisors Inc now owns 694 shares of the business services provider’s stock worth $30,000 after acquiring an additional 323 shares during the last quarter. Finally, Annapolis Financial Services LLC grew its stake in shares of Copart by 100.0% in the third quarter. Annapolis Financial Services LLC now owns 720 shares of the business services provider’s stock worth $31,000 after acquiring an additional 360 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Trading Up 1.2 %

Shares of CPRT traded up $0.68 during trading hours on Thursday, hitting $57.92. The company had a trading volume of 5,016,790 shares, compared to its average volume of 4,797,439. The company has a market capitalization of $55.69 billion, a PE ratio of 41.67 and a beta of 1.22. Copart, Inc. has a one year low of $36.63 and a one year high of $58.15. The company’s fifty day moving average price is $52.13 and its two-hundred day moving average price is $48.65.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.02). The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. Copart had a net margin of 33.41% and a return on equity of 21.55%. The company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.31 earnings per share. Analysts forecast that Copart, Inc. will post 1.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CPRT has been the topic of several recent analyst reports. StockNews.com cut Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. HSBC started coverage on Copart in a research report on Monday, December 4th. They set a “hold” rating and a $51.00 price objective on the stock. Finally, JPMorgan Chase & Co. started coverage on Copart in a research report on Tuesday, February 27th. They issued a “neutral” rating and a $48.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $50.00.

Insider Transactions at Copart

In other news, Director Daniel J. Englander sold 320,000 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $47.04, for a total value of $15,052,800.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Copart news, Director Daniel J. Englander sold 320,000 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $47.04, for a total transaction of $15,052,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas N. Tryforos sold 285,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $55.27, for a total value of $15,751,950.00. Following the transaction, the director now directly owns 35,000 shares of the company’s stock, valued at approximately $1,934,450. The disclosure for this sale can be found here. Insiders have sold 705,000 shares of company stock worth $35,910,750 over the last quarter. 10.23% of the stock is currently owned by insiders.

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.