Continuum Advisory LLC Grows Position in Copart, Inc. (NASDAQ:CPRT)

Continuum Advisory LLC boosted its stake in Copart, Inc. (NASDAQ:CPRT) by 26.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,214 shares of the business services provider’s stock after buying an additional 252 shares during the period. Continuum Advisory LLC’s holdings in Copart were worth $70,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Copart by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 102,129,032 shares of the business services provider’s stock valued at $5,861,185,000 after acquiring an additional 976,909 shares during the period. Edgewood Management LLC raised its position in Copart by 14.1% in the fourth quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider’s stock valued at $1,346,548,000 after purchasing an additional 2,907,405 shares during the period. Capital World Investors raised its position in Copart by 0.8% in the fourth quarter. Capital World Investors now owns 21,353,932 shares of the business services provider’s stock valued at $1,225,502,000 after purchasing an additional 169,354 shares during the period. Bank of New York Mellon Corp lifted its stake in Copart by 23.3% during the fourth quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider’s stock worth $1,115,664,000 after purchasing an additional 3,667,534 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Copart by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 19,172,603 shares of the business services provider’s stock worth $1,097,153,000 after buying an additional 408,677 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Stock Down 11.5%

Shares of CPRT stock opened at $53.67 on Friday. The firm has a 50 day moving average of $58.90 and a two-hundred day moving average of $58.24. The stock has a market capitalization of $51.85 billion, a PE ratio of 36.02 and a beta of 1.20. Copart, Inc. has a 52 week low of $48.05 and a 52 week high of $64.38.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. Copart had a return on equity of 19.31% and a net margin of 32.27%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the business posted $0.39 earnings per share. Copart’s revenue was up 7.5% compared to the same quarter last year. Analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analysts Set New Price Targets

CPRT has been the topic of several research reports. Argus lowered Copart from a “buy” rating to a “hold” rating in a research note on Friday, March 14th. JPMorgan Chase & Co. reduced their price target on shares of Copart from $60.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday.

Insider Transactions at Copart

In other Copart news, Director James E. Meeks sold 100,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total value of $5,400,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Steven D. Cohan sold 5,003 shares of the firm’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $60.01, for a total transaction of $300,230.03. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 200,000 shares of company stock valued at $11,401,000. 9.68% of the stock is currently owned by corporate insiders.

Copart 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.