Louisiana State Employees Retirement System Decreases Position in Copart, Inc. (NASDAQ:CPRT)

Louisiana State Employees Retirement System trimmed its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 4.2% in the 4th quarter, HoldingsChannel reports. The firm owned 117,600 shares of the business services provider’s stock after selling 5,100 shares during the period. Louisiana State Employees Retirement System’s holdings in Copart were worth $6,749,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Optimum Investment Advisors increased its stake in shares of Copart by 141.5% during the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after buying an additional 300 shares during the period. Eastern Bank purchased a new stake in shares of Copart in the 3rd quarter valued at approximately $29,000. Quarry LP purchased a new stake in shares of Copart in the 3rd quarter valued at approximately $29,000. Ashton Thomas Securities LLC acquired a new stake in shares of Copart in the 3rd quarter valued at $33,000. Finally, True Wealth Design LLC lifted its position in shares of Copart by 1,737.1% during the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock worth $34,000 after purchasing an additional 608 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Activity at Copart

In related news, Director Diane M. Morefield sold 30,000 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $58.01, for a total value of $1,740,300.00. Following the completion of the sale, the director now owns 20,000 shares in the company, valued at $1,160,200. This represents a 60.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman A Jayson Adair sold 251,423 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the sale, the chairman now owns 14,436,557 shares of the company’s stock, valued at approximately $920,907,971.03. This represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 650,213 shares of company stock valued at $39,199,813 over the last ninety days. Insiders own 9.68% of the company’s stock.

Copart Stock Up 1.0 %

CPRT stock opened at $59.23 on Wednesday. The business has a 50 day moving average price of $58.46 and a 200 day moving average price of $55.29. The stock has a market cap of $57.07 billion, a price-to-earnings ratio of 41.71 and a beta of 1.33. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.10 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. The company’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 EPS. As a group, sell-side analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. increased their target price on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th.

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.