Outlook Wealth Advisors LLC Raises Position in Copart, Inc. (NASDAQ:CPRT)

Outlook Wealth Advisors LLC increased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 23.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,262 shares of the business services provider’s stock after buying an additional 1,199 shares during the period. Outlook Wealth Advisors LLC’s holdings in Copart were worth $363,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. AE Wealth Management LLC raised its holdings in shares of Copart by 90.9% during the third quarter. AE Wealth Management LLC now owns 19,503 shares of the business services provider’s stock valued at $840,000 after buying an additional 9,287 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Copart by 94.8% in the third quarter. State of Alaska Department of Revenue now owns 116,883 shares of the business services provider’s stock worth $5,035,000 after acquiring an additional 56,894 shares in the last quarter. Capital Investment Advisors LLC acquired a new stake in Copart during the 3rd quarter valued at $277,000. Flagship Harbor Advisors LLC raised its position in Copart by 112.3% during the third quarter. Flagship Harbor Advisors LLC now owns 6,389 shares of the business services provider’s stock valued at $275,000 after buying an additional 3,380 shares during the period. Finally, DAVENPORT & Co LLC lifted its position in shares of Copart by 126.2% in the third quarter. DAVENPORT & Co LLC now owns 17,772 shares of the business services provider’s stock worth $766,000 after purchasing an additional 9,916 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Price Performance

Shares of NASDAQ CPRT traded up $0.51 during midday trading on Friday, reaching $55.73. 2,554,100 shares of the stock were exchanged, compared to its average volume of 3,758,305. Copart, Inc. has a 12 month low of $38.53 and a 12 month high of $58.58. The business has a 50-day simple moving average of $54.86 and a two-hundred day simple moving average of $50.41. The company has a market capitalization of $53.58 billion, a price-to-earnings ratio of 40.09 and a beta of 1.22.

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

Insider Buying and Selling at Copart

In other news, Chairman A Jayson Adair sold 600,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the transaction, the chairman now owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Chairman A Jayson Adair sold 600,000 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the completion of the sale, the chairman now directly owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Matt Blunt sold 100,000 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold 985,000 shares of company stock worth $55,519,950 over the last 90 days. Company insiders own 10.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. StockNews.com lowered Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Copart currently has a consensus rating of “Hold” and an average target price of $51.00.

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.