AE Wealth Management LLC Buys 6,718 Shares of Copart, Inc. (NASDAQ:CPRT)

Key Points

• AE Wealth Management LLC increased its holdings in Copart, Inc. by 40.1% in the first quarter, owning a total of 23,463 shares valued at approximately $1.33 million.
• Institutional investors control 85.78% of Copart's stock, with other notable increases in holdings from firms like Franklin Resources Inc. and GAMMA Investing LLC.
• Copart's CEO, Jeffrey Liaw, sold 24,088 shares at an average price of $46.43, reducing his position by 43.31%.

AE Wealth Management LLC raised its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 40.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,463 shares of the business services provider's stock after purchasing an additional 6,718 shares during the quarter. AE Wealth Management LLC's holdings in Copart were worth $1,328,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Principal Financial Group Inc. raised its position in shares of Copart by 3.3% during the 1st quarter. Principal Financial Group Inc. now owns 39,409,377 shares of the business services provider's stock worth $2,230,177,000 after buying an additional 1,249,687 shares in the last quarter. Edgewood Management LLC lifted its position in Copart by 14.1% during the 4th quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider's stock valued at $1,346,548,000 after purchasing an additional 2,907,405 shares during the period. Capital World Investors grew its stake in shares of Copart by 0.8% during the 4th quarter. Capital World Investors now owns 21,353,932 shares of the business services provider's stock worth $1,225,502,000 after acquiring an additional 169,354 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Copart by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 19,172,603 shares of the business services provider's stock valued at $1,097,153,000 after purchasing an additional 408,677 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of Copart by 2.7% during the fourth quarter. FMR LLC now owns 14,504,704 shares of the business services provider's stock worth $832,425,000 after purchasing an additional 380,691 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company's stock.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of the company's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total value of $1,118,405.84. Following the transaction, the chief executive officer owned 31,527 shares of the company's stock, valued at approximately $1,463,798.61. This represents a 43.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.68% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CPRT has been the topic of several recent analyst reports. Robert W. Baird dropped their price objective on Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday, July 17th. Stephens began coverage on Copart in a research note on Tuesday, July 8th. They issued an "equal weight" rating and a $50.00 price objective on the stock. Finally, JPMorgan Chase & Co. decreased their target price on Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd.

Copart Stock Performance

Copart stock traded up $0.03 during midday trading on Thursday, hitting $46.31. 1,188,812 shares of the company were exchanged, compared to its average volume of 5,667,497. The firm has a market capitalization of $44.77 billion, a PE ratio of 30.46 and a beta of 1.07. The business has a fifty day simple moving average of $48.94 and a two-hundred day simple moving average of $54.74. Copart, Inc. has a fifty-two week low of $45.52 and a fifty-two week high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. Copart had a return on equity of 18.20% and a net margin of 32.21%. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the business earned $0.39 EPS. The firm's revenue was up 7.5% compared to the same quarter last year. As a group, equities analysts expect that Copart, Inc. will post 1.57 earnings per share for the current 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.