Whalen Wealth Management Inc. Invests $463,000 in Copart, Inc. (NASDAQ:CPRT)

Whalen Wealth Management Inc. bought a new position in Copart, Inc. (NASDAQ:CPRT - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 8,183 shares of the business services provider's stock, valued at approximately $463,000.

Other institutional investors have also added to or reduced their stakes in the company. Sandy Spring Bank boosted its holdings in shares of Copart by 59.5% in the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock worth $27,000 after purchasing an additional 176 shares in the last quarter. Sunbelt Securities Inc. bought a new stake in Copart in the 4th quarter worth approximately $31,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Copart in the fourth quarter worth approximately $45,000. Versant Capital Management Inc grew its position in 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 acquiring an additional 831 shares during the last quarter. Finally, Curio Wealth LLC purchased a new position in shares of Copart during the fourth quarter worth approximately $52,000. Institutional investors own 85.78% of the company's stock.

Copart Stock Up 0.2%

Shares of NASDAQ CPRT opened at $47.97 on Monday. The firm's fifty day moving average is $56.58 and its 200 day moving average is $56.92. Copart, Inc. has a 52 week low of $47.70 and a 52 week high of $64.38. The company has a market cap of $46.38 billion, a price-to-earnings ratio of 31.56 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 for the quarter, hitting analysts' consensus estimates of $0.42. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.23 billion. Copart had a net margin of 32.21% and a return on equity of 18.20%. Copart's revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.39 earnings per share. Equities research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on CPRT. JPMorgan Chase & Co. reduced their target price on shares of Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Argus downgraded Copart from a "buy" rating to a "hold" rating in a report on Friday, March 14th.

Insider Activity at Copart

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

Copart Company 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.

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