Sugarloaf Wealth Management LLC Sells 3,802 Shares of Copart, Inc. (NASDAQ:CPRT)

Sugarloaf Wealth Management LLC lessened its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 5.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 64,865 shares of the business services provider’s stock after selling 3,802 shares during the period. Copart accounts for 0.6% of Sugarloaf Wealth Management LLC’s holdings, making the stock its 29th biggest position. Sugarloaf Wealth Management LLC’s holdings in Copart were worth $3,723,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in Copart by 2.5% in the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock worth $2,037,130,000 after buying an additional 941,858 shares during the period. State Street Corp boosted its stake in shares of Copart by 0.4% in the third quarter. State Street Corp now owns 34,157,967 shares of the business services provider’s stock worth $1,789,877,000 after acquiring an additional 120,939 shares during the period. Edgewood Management LLC grew its position in shares of Copart by 0.6% during the third quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider’s stock worth $1,077,119,000 after purchasing an additional 125,220 shares in the last quarter. Geode Capital Management LLC raised its stake in Copart by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider’s stock valued at $979,547,000 after purchasing an additional 291,580 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Copart by 0.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,898,956 shares of the business services provider’s stock worth $427,807,000 after purchasing an additional 30,454 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

NASDAQ:CPRT traded down $1.08 during trading hours on Friday, reaching $55.70. The stock had a trading volume of 1,704,874 shares, compared to its average volume of 3,451,738. The stock has a market capitalization of $53.67 billion, a PE ratio of 39.23 and a beta of 1.33. Copart, Inc. has a 52 week low of $47.19 and a 52 week high of $64.38. The company has a 50 day moving average price of $58.81 and a two-hundred day moving average price of $54.64.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.37. Copart had a net margin of 31.92% and a return on equity of 18.96%. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the firm earned $0.34 earnings per share. Copart’s revenue was up 12.4% on a year-over-year basis. Equities research analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Insider Buying and Selling

In related news, Director Daniel J. Englander sold 235,480 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $56.84, for a total value of $13,384,683.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Matt Blunt sold 50,000 shares of the company’s 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. Over the last quarter, insiders sold 650,213 shares of company stock worth $39,199,813. Corporate insiders own 9.68% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. increased their price objective on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th.

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.