Copart, Inc. (NASDAQ:CPRT) Stock Position Trimmed by Advisory Services Network LLC

Advisory Services Network LLC cut its position in Copart, Inc. (NASDAQ:CPRT) by 4.3% during the 4th quarter, HoldingsChannel reports. The firm owned 164,203 shares of the business services provider’s stock after selling 7,464 shares during the quarter. Advisory Services Network LLC’s holdings in Copart were worth $8,046,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Manchester Capital Management LLC lifted its position in Copart by 101.0% in the 3rd quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 314 shares during the last quarter. Bell Investment Advisors Inc raised its position in shares of Copart by 87.1% during the 3rd quarter. Bell Investment Advisors Inc now owns 694 shares of the business services provider’s stock worth $30,000 after buying an additional 323 shares in the last quarter. Fortitude Family Office LLC bought a new stake in shares of Copart during the 4th quarter worth about $34,000. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Copart during the 4th quarter worth about $40,000. Finally, Cornerstone Planning Group LLC raised its position in shares of Copart by 98.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 818 shares of the business services provider’s stock worth $35,000 after buying an additional 406 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. StockNews.com cut shares of Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. lifted their target price on shares of Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $51.00.

Insider Activity at Copart

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

Copart Price Performance

CPRT traded up $0.50 on Friday, reaching $54.02. 2,632,294 shares of the company traded hands, compared to its average volume of 3,864,753. The stock’s 50 day moving average price is $55.50 and its 200-day moving average price is $51.84. Copart, Inc. has a 52-week low of $42.41 and a 52-week high of $58.58. The company has a market cap of $51.94 billion, a price-to-earnings ratio of 38.04 and a beta of 1.22.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, May 16th. The business services provider reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Copart had a net margin of 33.33% and a return on equity of 20.80%. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the firm posted $0.36 earnings per share. The firm’s revenue was up 10.3% on a year-over-year basis. As a group, equities research analysts forecast that Copart, Inc. will post 1.44 earnings per share for the current fiscal 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.