KFG Wealth Management LLC Boosts Holdings in Copart, Inc. (NASDAQ:CPRT)

KFG Wealth Management LLC raised its holdings in Copart, Inc. (NASDAQ:CPRT) by 15.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,561 shares of the business services provider’s stock after purchasing an additional 737 shares during the period. KFG Wealth Management LLC’s holdings in Copart were worth $319,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Optimum Investment Advisors raised its position in shares of Copart by 141.5% during the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after purchasing an additional 300 shares during the last quarter. Eastern Bank purchased a new position in Copart during the third quarter worth $29,000. Quarry LP purchased a new position in Copart during the third quarter worth $29,000. Ashton Thomas Securities LLC acquired a new position in shares of Copart in the third quarter worth $33,000. Finally, True Wealth Design LLC lifted its position in shares of Copart by 1,737.1% in the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 608 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Copart

In related news, Director Daniel J. Englander sold 235,480 shares of the stock in a transaction 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 document filed with the SEC, which can be accessed through the SEC website. Also, Director Thomas N. Tryforos sold 83,310 shares of Copart stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $61.86, for a total value of $5,153,556.60. Following the completion of the transaction, the director now owns 7,850 shares in the company, valued at $485,601. The trade was a 91.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 650,213 shares of company stock worth $39,199,813 in the last 90 days. 9.68% of the stock is owned by company insiders.

Copart Stock Performance

Shares of NASDAQ CPRT opened at $57.70 on Friday. The firm has a market cap of $55.60 billion, a P/E ratio of 40.63 and a beta of 1.33. Copart, Inc. has a 1 year low of $47.73 and a 1 year high of $64.38. The firm’s 50 day moving average price is $59.10 and its 200 day moving average price is $54.82.

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