Gulf International Bank UK Ltd Cuts Stock Position in Copart, Inc. (NASDAQ:CPRT)

Gulf International Bank UK Ltd trimmed its holdings in Copart, Inc. (NASDAQ:CPRT) by 1.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 67,268 shares of the business services provider’s stock after selling 690 shares during the period. Gulf International Bank UK Ltd’s holdings in Copart were worth $3,860,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Quarry LP bought a new stake in Copart during the 3rd quarter valued at approximately $29,000. Ashton Thomas Securities LLC purchased a new stake in Copart during the 3rd quarter valued at approximately $33,000. True Wealth Design LLC raised its position in shares of Copart by 1,737.1% during the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock valued at $34,000 after buying an additional 608 shares during the last quarter. Continuum Advisory LLC lifted its holdings in shares of Copart by 88.6% in the third quarter. Continuum Advisory LLC now owns 962 shares of the business services provider’s stock worth $55,000 after buying an additional 452 shares in the last quarter. Finally, Retirement Wealth Solutions LLC bought a new position in shares of Copart during the fourth quarter worth $54,000. Institutional investors own 85.78% of the company’s stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. boosted their price target on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th.

Insiders Place Their Bets

In other Copart news, Director Matt Blunt sold 50,000 shares of Copart stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total transaction of $2,883,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Diane M. Morefield sold 30,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the transaction, the director now owns 20,000 shares in the company, valued at $1,160,200. This trade represents a 60.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 398,790 shares of company stock valued at $23,161,540 over the last ninety days. 9.68% of the stock is owned by insiders.

Copart Price Performance

Shares of CPRT opened at $55.23 on Friday. The business’s 50 day simple moving average is $57.69 and its 200-day simple moving average is $55.82. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The stock has a market capitalization of $53.22 billion, a price-to-earnings ratio of 37.07 and a beta of 1.33.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Copart had a net margin of 32.27% and a return on equity of 19.31%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. On average, sell-side analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

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.