Sheets Smith Wealth Management continued to hold its stake in Copart, Inc. (NASDAQ:CPRT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,063 shares of the company’s stock at the end of the third quarter. Copart accounts for approximately 1.2% of Sheets Smith Wealth Management’s investment portfolio, making the stock its 14th largest position. Sheets Smith Wealth Management’s holdings in Copart were worth $4,181,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of CPRT. Old Mutual Global Investors UK Ltd. raised its stake in Copart by 32.8% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 234,338 shares of the company’s stock valued at $12,551,000 after buying an additional 57,842 shares in the last quarter. William Blair Investment Management LLC bought a new stake in Copart during the second quarter valued at about $106,925,000. Hanseatic Management Services Inc. raised its stake in Copart by 2.3% in the third quarter. Hanseatic Management Services Inc. now owns 40,433 shares of the company’s stock valued at $2,166,000 after buying an additional 890 shares in the last quarter. Incline Global Management LLC raised its stake in Copart by 5,070.8% in the third quarter. Incline Global Management LLC now owns 476,902 shares of the company’s stock valued at $25,543,000 after buying an additional 467,679 shares in the last quarter. Finally, Arlington Value Capital LLC raised its stake in Copart by 5.6% in the third quarter. Arlington Value Capital LLC now owns 114,805 shares of the company’s stock valued at $6,148,000 after buying an additional 6,096 shares in the last quarter. Institutional investors own 79.68% of the company’s stock.
Shares of Copart, Inc. (NASDAQ:CPRT) traded up 0.91% during trading on Monday, reaching $58.70. 37,763 shares of the company traded hands. The company has a 50-day moving average of $56.62 and a 200-day moving average of $53.84. Copart, Inc. has a 12 month low of $33.65 and a 12 month high of $58.71. The stock has a market capitalization of $6.73 billion, a PE ratio of 18.29 and a beta of 1.00.
Copart (NASDAQ:CPRT) last released its earnings results on Monday, November 21st. The company reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.02. The company had revenue of $345.99 million for the quarter, compared to analysts’ expectations of $326.11 million. Copart had a return on equity of 35.43% and a net margin of 29.00%. The business’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.42 EPS. Analysts forecast that Copart, Inc. will post $2.46 earnings per share for the current fiscal year.
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Separately, Stephens lowered shares of Copart from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, November 23rd. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Copart has a consensus rating of “Hold” and an average price target of $55.57.
In other news, EVP Vikrant Bhatia sold 3,000 shares of Copart stock in a transaction on Tuesday, December 20th. The stock was sold at an average price of $56.46, for a total transaction of $169,380.00. Following the sale, the executive vice president now directly owns 3,181 shares in the company, valued at approximately $179,599.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 17.00% of the company’s stock.
Copart Company Profile
Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.
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