CreativeOne Wealth LLC Purchases 4,951 Shares of Copart, Inc. (NASDAQ:CPRT)

CreativeOne Wealth LLC raised its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 106.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,605 shares of the business services provider’s stock after acquiring an additional 4,951 shares during the quarter. CreativeOne Wealth LLC’s holdings in Copart were worth $503,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Manning & Napier Advisors LLC acquired a new stake in Copart in the 2nd quarter valued at $109,382,000. Kinsale Capital Group Inc. increased its position in shares of Copart by 17.7% in the third quarter. Kinsale Capital Group Inc. now owns 89,979 shares of the business services provider’s stock valued at $4,715,000 after acquiring an additional 13,554 shares during the last quarter. Cetera Investment Advisers raised its holdings in Copart by 162.9% during the first quarter. Cetera Investment Advisers now owns 184,417 shares of the business services provider’s stock worth $10,681,000 after acquiring an additional 114,263 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Copart during the second quarter valued at approximately $5,418,000. Finally, Assenagon Asset Management S.A. grew its stake in Copart by 263.0% in the second quarter. Assenagon Asset Management S.A. now owns 651,901 shares of the business services provider’s stock valued at $35,307,000 after purchasing an additional 472,318 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Robert W. Baird cut their price target on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th.

Insider Activity at Copart

In other news, Chairman A Jayson Adair sold 251,423 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total value of $16,038,273.17. Following the transaction, the chairman now owns 14,436,557 shares of the company’s stock, valued at approximately $920,907,971.03. This 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 can be accessed through this link. 9.68% of the stock is owned by company insiders.

Copart Stock Down 0.2 %

CPRT opened at $63.39 on Monday. The stock has a market cap of $61.08 billion, a price-to-earnings ratio of 44.64 and a beta of 1.27. Copart, Inc. has a 12-month low of $46.21 and a 12-month high of $64.38. The business has a 50 day moving average of $55.06 and a 200-day moving average of $53.50.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the firm earned $0.34 earnings per share. As a group, analysts expect that Copart, Inc. will post 1.57 earnings per share 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.