Solano Wealth Investment Advisors LLC Takes Position in Copart, Inc. (NASDAQ:CPRT)

Solano Wealth Investment Advisors LLC bought a new position in Copart, Inc. (NASDAQ:CPRT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 9,150 shares of the business services provider's stock, valued at approximately $525,000. Copart makes up approximately 0.3% of Solano Wealth Investment Advisors LLC's investment portfolio, making the stock its 24th largest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of CPRT. Norges Bank bought a new stake in Copart during the fourth quarter valued at about $682,089,000. Madison Investment Advisors LLC purchased a new position in shares of Copart in the 4th quarter worth approximately $253,686,000. Bank of New York Mellon Corp raised its stake in shares of Copart by 23.3% in the fourth quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider's stock valued at $1,115,664,000 after acquiring an additional 3,667,534 shares during the period. Edgewood Management LLC raised its holdings in shares of Copart by 14.1% in the fourth quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider's stock worth $1,346,548,000 after buying an additional 2,907,405 shares during the period. Finally, Franklin Resources Inc. increased its stake in Copart by 335.8% in the 3rd quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider's stock worth $149,471,000 after buying an additional 2,084,626 shares during the period. 85.78% of the stock is owned by institutional investors.

Copart Price Performance

NASDAQ CPRT traded down $0.50 during trading hours on Wednesday, hitting $59.95. 1,402,575 shares of the company's stock traded hands, compared to its average volume of 4,390,930. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38. The company has a market capitalization of $57.92 billion, a PE ratio of 40.23 and a beta of 1.22. The firm's 50-day moving average is $56.17 and its 200-day moving average is $56.75.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.02. Copart had a return on equity of 19.31% and a net margin of 32.27%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Equities research analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Argus cut shares of Copart from a "buy" rating to a "hold" rating in a research report on Friday, March 14th.

Insider Activity

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