Copart, Inc. (NASDAQ:CPRT) Shares Sold by Swiss National Bank

Swiss National Bank cut its position in Copart, Inc. (NASDAQ:CPRT) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,694,300 shares of the business services provider’s stock after selling 69,900 shares during the quarter. Swiss National Bank owned approximately 0.28% of Copart worth $132,021,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CPRT. Commonwealth Equity Services LLC grew its holdings in shares of Copart by 122.5% during the third quarter. Commonwealth Equity Services LLC now owns 98,215 shares of the business services provider’s stock worth $4,232,000 after buying an additional 54,068 shares during the last quarter. SVB Wealth LLC increased its holdings in shares of Copart by 96.6% in the third quarter. SVB Wealth LLC now owns 10,912 shares of the business services provider’s stock valued at $470,000 after purchasing an additional 5,362 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in shares of Copart by 139.9% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 40,690 shares of the business services provider’s stock worth $1,753,000 after purchasing an additional 23,726 shares during the last quarter. Pinnacle Associates Ltd. raised its position in Copart by 100.9% during the 3rd quarter. Pinnacle Associates Ltd. now owns 12,436 shares of the business services provider’s stock worth $536,000 after buying an additional 6,247 shares during the last quarter. Finally, Raymond James & Associates boosted its holdings in shares of Copart by 97.2% in the third quarter. Raymond James & Associates now owns 802,219 shares of the business services provider’s stock valued at $34,568,000 after acquiring an additional 395,454 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CPRT shares. StockNews.com downgraded shares of Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. lifted their price target on Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $51.00.

Copart Price Performance

CPRT opened at $55.20 on Friday. Copart, Inc. has a 1-year low of $39.06 and a 1-year high of $58.58. The stock has a market cap of $53.07 billion, a P/E ratio of 39.71 and a beta of 1.22. The stock’s 50 day simple moving average is $55.40 and its 200 day simple moving average is $50.72.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.02). The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. Copart had a net margin of 33.41% and a return on equity of 21.55%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the company posted $0.31 EPS. Research analysts expect that Copart, Inc. will post 1.42 EPS for the current fiscal year.

Insider Buying and Selling at Copart

In related news, Chairman A Jayson Adair sold 600,000 shares of Copart stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the completion of the transaction, the chairman now directly owns 19,687,980 shares in the company, valued at approximately $1,137,374,604.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman A Jayson Adair sold 600,000 shares of Copart stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the completion of the sale, the chairman now owns 19,687,980 shares in the company, valued at approximately $1,137,374,604.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas N. Tryforos sold 285,000 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the completion of the transaction, the director now directly owns 35,000 shares of the company’s stock, valued at approximately $1,934,450. The disclosure for this sale can be found here. In the last three months, insiders sold 985,000 shares of company stock worth $55,519,950. 10.23% of the stock is 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.