Golden State Wealth Management LLC Makes New $73,000 Investment in Copart, Inc. (NASDAQ:CPRT)

Golden State Wealth Management LLC bought a new stake in shares of Copart, Inc. (NASDAQ:CPRT) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,276 shares of the business services provider’s stock, valued at approximately $73,000.

A number of other institutional investors have also recently added to or reduced their stakes in CPRT. Jensen Investment Management Inc. boosted its holdings in Copart by 2,466.0% in the third quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock valued at $185,299,000 after purchasing an additional 3,398,423 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Copart by 462.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock valued at $192,240,000 after purchasing an additional 3,016,795 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Copart by 335.8% during the third quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock worth $149,471,000 after buying an additional 2,084,626 shares in the last quarter. Comgest Global Investors S.A.S. increased its stake in shares of Copart by 706.6% in the third quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider’s stock worth $83,153,000 after buying an additional 1,390,146 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Copart by 1,103.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,062,931 shares of the business services provider’s stock valued at $55,698,000 after acquiring an additional 974,585 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Copart news, Chairman A Jayson Adair sold 251,423 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel J. Englander sold 235,480 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 650,213 shares of company stock worth $39,199,813. 9.68% of the stock is owned by company insiders.

Copart Stock Performance

Shares of NASDAQ:CPRT opened at $58.63 on Tuesday. The company’s fifty day moving average is $58.52 and its two-hundred day moving average is $55.23. Copart, Inc. has a 1-year low of $48.05 and a 1-year high of $64.38. The stock has a market capitalization of $56.49 billion, a price-to-earnings ratio of 41.29 and a beta of 1.33.

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

Wall Street Analyst Weigh In

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

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.