Octavia Wealth Advisors LLC Has $322,000 Holdings in Copart, Inc. (NASDAQ:CPRT)

Octavia Wealth Advisors LLC decreased its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 3.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 5,687 shares of the business services provider’s stock after selling 229 shares during the period. Octavia Wealth Advisors LLC’s holdings in Copart were worth $322,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CPRT. Tounjian Advisory Partners LLC bought a new position in Copart during the first quarter worth about $635,000. Wesbanco Bank Inc. increased its stake in shares of Copart by 5.9% in the 1st quarter. Wesbanco Bank Inc. now owns 4,646 shares of the business services provider’s stock valued at $263,000 after acquiring an additional 257 shares during the last quarter. Capital Investment Advisors LLC raised its position in shares of Copart by 6.6% in the 1st quarter. Capital Investment Advisors LLC now owns 35,959 shares of the business services provider’s stock valued at $2,035,000 after acquiring an additional 2,231 shares during the period. OLD National Bancorp IN boosted its stake in Copart by 152.0% during the 1st quarter. OLD National Bancorp IN now owns 700,592 shares of the business services provider’s stock worth $39,646,000 after acquiring an additional 422,552 shares during the last quarter. Finally, RDA Financial Network grew its holdings in Copart by 9.7% during the first quarter. RDA Financial Network now owns 28,291 shares of the business services provider’s stock valued at $1,601,000 after purchasing an additional 2,510 shares during the period. 85.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of Copart from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, May 23rd. Argus cut shares of Copart from a “buy” rating to a “hold” rating in a research report on Friday, March 14th.

Insider Buying and Selling at Copart

In other news, Director James E. Meeks sold 100,000 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total transaction of $5,400,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven D. Cohan sold 94,997 shares of the firm’s stock in a transaction 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 200,000 shares of company stock valued at $11,401,000. 9.68% of the stock is currently owned by corporate insiders.

Copart Price Performance

Shares of Copart stock opened at $50.13 on Monday. The company has a market capitalization of $48.47 billion, a P/E ratio of 33.64 and a beta of 1.10. The business has a 50-day moving average of $58.14 and a two-hundred day moving average of $57.90. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data 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. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.23 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. Copart’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.39 EPS. On average, equities analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal 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.