Copart, Inc. (NASDAQ:CPRT) is Weybosset Research & Management LLC’s Largest Position

Weybosset Research & Management LLC reduced its position in Copart, Inc. (NASDAQ:CPRT) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 633,789 shares of the business services provider’s stock after selling 10,005 shares during the quarter. Copart comprises about 12.4% of Weybosset Research & Management LLC’s investment portfolio, making the stock its biggest position. Weybosset Research & Management LLC owned 0.07% of Copart worth $36,373,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPRT. Optimum Investment Advisors boosted its position in shares of Copart by 141.5% in 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 acquired a new stake in Copart during the 3rd quarter valued at $29,000. Quarry LP purchased a new stake in Copart during the 3rd quarter worth $29,000. Meeder Asset Management Inc. lifted its holdings in Copart by 283.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock worth $31,000 after buying an additional 425 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in Copart in the 3rd quarter valued at about $33,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Transactions at Copart

In other news, Director Matt Blunt sold 50,000 shares of the firm’s 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 filing with the SEC, which is accessible through this link. Also, Director Thomas N. Tryforos sold 83,310 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $61.86, for a total transaction of $5,153,556.60. Following the transaction, the director now directly owns 7,850 shares in the company, valued at $485,601. The trade was a 91.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 650,213 shares of company stock valued at $39,199,813 over the last three months. 9.68% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

Copart Trading Down 1.9 %

Shares of NASDAQ CPRT traded down $1.10 during midday trading on Friday, reaching $55.68. The company’s stock had a trading volume of 784,951 shares, compared to its average volume of 3,302,252. The company has a market cap of $53.65 billion, a price-to-earnings ratio of 39.21 and a beta of 1.33. Copart, Inc. has a one year low of $47.19 and a one year high of $64.38. The company has a 50 day moving average price of $58.81 and a 200 day moving average price of $54.64.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.37. Copart had a return on equity of 18.96% and a net margin of 31.92%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter last year, the business posted $0.34 EPS. Copart’s revenue was up 12.4% on a year-over-year basis. Research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal 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.