Copart, Inc. (NASDAQ:CPRT) Shares Sold by Meridian Wealth Management LLC

Meridian Wealth Management LLC reduced its position in Copart, Inc. (NASDAQ:CPRT) by 48.0% in the 4th quarter, Holdings Channel reports. The firm owned 4,619 shares of the business services provider’s stock after selling 4,262 shares during the quarter. Meridian Wealth Management LLC’s holdings in Copart were worth $265,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC raised its stake in Copart by 2.7% in the 4th quarter. Fidelis Capital Partners LLC now owns 15,815 shares of the business services provider’s stock valued at $913,000 after purchasing an additional 417 shares during the last quarter. Bellecapital International Ltd. raised its stake in Copart by 11.7% in the 4th quarter. Bellecapital International Ltd. now owns 181,241 shares of the business services provider’s stock valued at $10,401,000 after purchasing an additional 18,915 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Copart in the 4th quarter valued at $273,000. Jones Financial Companies Lllp raised its stake in Copart by 188.8% in the 4th quarter. Jones Financial Companies Lllp now owns 7,027 shares of the business services provider’s stock valued at $403,000 after purchasing an additional 4,594 shares during the last quarter. Finally, Kinsale Capital Group Inc. raised its stake in Copart by 13.4% in the 4th quarter. Kinsale Capital Group Inc. now owns 102,019 shares of the business services provider’s stock valued at $5,855,000 after purchasing an additional 12,040 shares during the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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.

Copart Stock Up 0.3 %

Shares of NASDAQ:CPRT opened at $54.41 on Thursday. The business has a fifty day moving average of $57.45 and a two-hundred day moving average of $55.96. The stock has a market cap of $52.57 billion, a P/E ratio of 36.52 and a beta of 1.30. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38.

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

Insider Buying and Selling at Copart

In other news, Director Diane M. Morefield sold 30,000 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $1,160,200. This represents a 60.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Matt Blunt sold 50,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $57.66, for a total value of $2,883,000.00. The disclosure for this sale can be found here. Insiders sold a total of 315,480 shares of company stock worth $18,007,983 in the last three months. 9.68% of the stock is 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.