Axxcess Wealth Management LLC Decreases Position in Copart, Inc. (NASDAQ:CPRT)

Axxcess Wealth Management LLC cut its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 27.9% during the fourth quarter, HoldingsChannel reports. The firm owned 4,860 shares of the business services provider’s stock after selling 1,883 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Copart were worth $279,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of Copart in the third quarter worth approximately $29,000. True Wealth Design LLC raised its holdings in shares of Copart by 1,737.1% in the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock worth $34,000 after buying an additional 608 shares during the period. Curio Wealth LLC purchased a new stake in shares of Copart in the fourth quarter worth approximately $52,000. Continuum Advisory LLC raised its holdings in shares of Copart by 88.6% in the third quarter. Continuum Advisory LLC now owns 962 shares of the business services provider’s stock worth $55,000 after buying an additional 452 shares during the period. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Copart in the fourth quarter worth approximately $54,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Stock Down 0.4 %

Shares of NASDAQ:CPRT opened at $53.63 on Friday. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38. The stock has a market cap of $51.81 billion, a P/E ratio of 35.99 and a beta of 1.30. The business’s 50 day moving average is $56.43 and its 200 day moving average is $56.01.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.02. Copart had a return on equity of 19.31% and a net margin of 32.27%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. On average, sell-side analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Argus downgraded Copart from a “buy” rating to a “hold” rating in a report on Friday, March 14th.

Insider Buying and Selling

In other Copart news, Director Diane M. Morefield sold 30,000 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the sale, the director now owns 20,000 shares of the company’s stock, valued at approximately $1,160,200. This trade represents a 60.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matt Blunt sold 50,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total value of $2,883,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 415,480 shares of company stock valued at $23,407,983 over the last quarter. 9.68% of the stock is owned by corporate insiders.

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.