Granite Bay Wealth Management LLC Makes New Investment in Copart, Inc. (NASDAQ:CPRT)

Granite Bay 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 Form 13F filing with the Securities and Exchange Commission. The fund bought 10,071 shares of the business services provider’s stock, valued at approximately $494,000.

Several other large investors have also recently modified their holdings of the stock. Outlook Wealth Advisors LLC bought a new position in shares of Copart during the 4th quarter valued at approximately $248,000. Louisiana State Employees Retirement System bought a new position in shares of Copart during the 4th quarter valued at approximately $6,326,000. Simplicity Solutions LLC increased its position in shares of Copart by 9.7% during the 4th quarter. Simplicity Solutions LLC now owns 16,801 shares of the business services provider’s stock valued at $823,000 after purchasing an additional 1,480 shares during the last quarter. Koshinski Asset Management Inc. increased its position in shares of Copart by 51.9% during the 4th quarter. Koshinski Asset Management Inc. now owns 8,555 shares of the business services provider’s stock valued at $419,000 after purchasing an additional 2,924 shares during the last quarter. Finally, NewEdge Wealth LLC bought a new position in shares of Copart during the 4th quarter valued at approximately $388,000. Institutional investors own 85.78% of the company’s stock.

Insiders Place Their Bets

In other Copart news, Director Matt Blunt sold 100,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $51.06, for a total value of $5,106,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Matt Blunt sold 100,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $51.06, for a total transaction of $5,106,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas N. Tryforos sold 285,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total value of $15,751,950.00. Following the sale, the director now owns 35,000 shares of the company’s stock, valued at $1,934,450. The disclosure for this sale can be found here. In the last ninety days, insiders sold 985,000 shares of company stock worth $55,519,950. 10.23% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CPRT has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their target price on Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. StockNews.com cut Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Copart has a consensus rating of “Hold” and a consensus price target of $51.00.

Copart Stock Down 1.1 %

CPRT traded down $0.62 during trading hours on Friday, reaching $55.38. 3,610,042 shares of the company’s stock traded hands, compared to its average volume of 4,138,347. The firm has a 50-day moving average price of $54.02 and a 200 day moving average price of $49.72. Copart, Inc. has a 52-week low of $38.05 and a 52-week high of $58.58. The firm has a market capitalization of $53.25 billion, a PE ratio of 39.84 and a beta of 1.22.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). Copart had a net margin of 33.41% and a return on equity of 21.55%. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the firm earned $0.31 EPS. Copart’s revenue was up 6.6% compared to the same quarter last year. Equities analysts predict that Copart, Inc. will post 1.42 EPS for the current fiscal year.

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.