Blue Zone Wealth Advisors LLC Boosts Stock Position in Copart, Inc. (NASDAQ:CPRT)

Blue Zone Wealth Advisors LLC increased its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 13.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 117,844 shares of the business services provider's stock after buying an additional 14,086 shares during the quarter. Copart comprises approximately 1.9% of Blue Zone Wealth Advisors LLC's holdings, making the stock its 15th largest holding. Blue Zone Wealth Advisors LLC's holdings in Copart were worth $6,669,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Sandy Spring Bank lifted its position in shares of Copart by 59.5% during the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock worth $27,000 after purchasing an additional 176 shares during the last quarter. Sunbelt Securities Inc. bought a new stake in shares of Copart during the fourth quarter worth $31,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Copart during the fourth quarter valued at $45,000. Versant Capital Management Inc increased its stake in shares of Copart by 1,567.9% during the first quarter. Versant Capital Management Inc now owns 884 shares of the business services provider's stock valued at $50,000 after buying an additional 831 shares during the period. Finally, Curio Wealth LLC purchased a new position in shares of Copart during the fourth quarter valued at $52,000. 85.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on CPRT. JPMorgan Chase & Co. cut their price target on Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Argus lowered Copart from a "buy" rating to a "hold" rating in a research note on Friday, March 14th.

Insiders Place Their Bets

In related news, Director James E. Meeks sold 100,000 shares of Copart stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total transaction of $5,400,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven D. Cohan sold 94,997 shares of Copart stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $60.01, for a total value of $5,700,769.97. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 200,000 shares of company stock valued at $11,401,000. 9.68% of the stock is currently owned by corporate insiders.

Copart Trading Down 0.0%

Shares of Copart stock traded down $0.01 during trading on Friday, hitting $50.13. 4,982,389 shares of the stock traded hands, compared to its average volume of 4,675,566. The stock's fifty day simple moving average is $58.14 and its 200 day simple moving average is $57.90. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38. The firm has a market cap of $48.47 billion, a P/E ratio of 33.64 and a beta of 1.10.

Copart (NASDAQ:CPRT - Get Free Report) last posted its earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. Copart had a return on equity of 19.31% and a net margin of 32.27%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the firm earned $0.39 earnings per share. The firm's quarterly 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 EPS for the current year.

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.