Premier Path Wealth Partners LLC Increases Stock Position in Copart, Inc. (NASDAQ:CPRT)

Premier Path Wealth Partners LLC grew its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 1.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,669 shares of the business services provider’s stock after acquiring an additional 278 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Copart were worth $943,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CPRT. Sandy Spring Bank boosted its holdings in shares of Copart by 59.5% during the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 176 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of Copart during the 4th quarter valued at about $31,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Copart during the 4th quarter valued at about $45,000. Versant Capital Management Inc boosted its holdings in shares of Copart by 1,567.9% during the 1st quarter. Versant Capital Management Inc now owns 884 shares of the business services provider’s stock valued at $50,000 after acquiring an additional 831 shares during the last quarter. Finally, Curio Wealth LLC purchased a new stake in shares of Copart during the 4th quarter valued at about $52,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insiders Place Their Bets

In other Copart news, Director Steven D. Cohan sold 94,997 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $60.01, for a total transaction of $5,700,769.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 9.68% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Copart from $60.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd. Argus cut shares of Copart from a “buy” rating to a “hold” rating in a research note on Friday, March 14th.

Copart Stock Down 0.2%

Shares of NASDAQ:CPRT opened at $47.88 on Friday. The firm’s 50 day moving average price is $56.82 and its 200-day moving average price is $57.09. Copart, Inc. has a twelve month low of $47.70 and a twelve month high of $64.38. The stock has a market capitalization of $46.30 billion, a PE ratio of 31.50 and a beta of 1.10.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. Copart had a net margin of 32.21% and a return on equity of 18.20%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the business earned $0.39 EPS. The business’s quarterly revenue was up 7.5% on a year-over-year basis. Analysts expect that Copart, Inc. will post 1.57 earnings per share 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.