True Wealth Design LLC Purchases 608 Shares of Copart, Inc. (NASDAQ:CPRT)

True Wealth Design LLC boosted its holdings in Copart, Inc. (NASDAQ:CPRT) by 1,737.1% during the third quarter, HoldingsChannel.com reports. The fund owned 643 shares of the business services provider’s stock after purchasing an additional 608 shares during the period. True Wealth Design LLC’s holdings in Copart were worth $34,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CPRT. Optimum Investment Advisors increased its position in Copart by 141.5% in the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 300 shares in the last quarter. Eastern Bank bought a new position in Copart in the 3rd quarter valued at $29,000. Crewe Advisors LLC increased its stake in shares of Copart by 98.6% in the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock valued at $31,000 after buying an additional 280 shares during the period. Meeder Asset Management Inc. raised its position in shares of Copart by 283.3% during the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock worth $31,000 after acquiring an additional 425 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Copart by 477.7% during the second quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 492 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CPRT. JPMorgan Chase & Co. boosted their price objective on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Robert W. Baird dropped 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.

Copart Trading Down 0.2 %

NASDAQ CPRT opened at $63.39 on Monday. Copart, Inc. has a 12 month low of $46.21 and a 12 month high of $64.38. The stock has a 50-day simple moving average of $55.06 and a 200 day simple moving average of $53.50. The company has a market capitalization of $61.08 billion, a PE ratio of 44.64 and a beta of 1.27.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results 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). Copart had a net margin of 31.92% and a return on equity of 18.96%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the company earned $0.34 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. As a group, sell-side analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Transactions at Copart

In related 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 of the company’s stock, valued at approximately $920,907,971.03. This trade represents a 1.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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.