Bright Rock Capital Management LLC lessened its holdings in shares of Copart, Inc. (NASDAQ:CPRT – Free Report) by 11.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 162,000 shares of the business services provider’s stock after selling 20,000 shares during the period. Copart accounts for 2.0% of Bright Rock Capital Management LLC’s investment portfolio, making the stock its 19th biggest holding. Bright Rock Capital Management LLC’s holdings in Copart were worth $9,297,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the business. Wallace Advisory Group LLC raised its holdings in Copart by 16.3% during the fourth quarter. Wallace Advisory Group LLC now owns 10,572 shares of the business services provider’s stock worth $554,000 after purchasing an additional 1,480 shares in the last quarter. Signal Advisors Wealth LLC grew its position in shares of Copart by 42.0% in the 4th quarter. Signal Advisors Wealth LLC now owns 54,055 shares of the business services provider’s stock valued at $3,102,000 after buying an additional 15,993 shares during the last quarter. Unique Wealth LLC raised its stake in Copart by 43.9% during the 4th quarter. Unique Wealth LLC now owns 5,858 shares of the business services provider’s stock worth $336,000 after acquiring an additional 1,788 shares in the last quarter. Eastern Bank lifted its position in Copart by 115.1% in the fourth quarter. Eastern Bank now owns 1,196 shares of the business services provider’s stock valued at $69,000 after acquiring an additional 640 shares during the last quarter. Finally, Wedmont Private Capital boosted its stake in Copart by 2.0% in the fourth quarter. Wedmont Private Capital now owns 17,408 shares of the business services provider’s stock valued at $969,000 after acquiring an additional 334 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.
Wall Street Analyst Weigh In
Separately, JPMorgan Chase & Co. lifted their target price on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th.
Insider Activity at Copart
In other news, Director Thomas N. Tryforos sold 83,310 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $61.86, for a total value of $5,153,556.60. Following the completion of the sale, the director now owns 7,850 shares in the company, valued at approximately $485,601. This trade represents a 91.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total value of $16,038,273.17. Following the completion of the sale, the chairman now directly owns 14,436,557 shares in the company, valued at $920,907,971.03. This represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 650,213 shares of company stock worth $39,199,813 in the last quarter. Company insiders own 9.68% of the company’s stock.
Copart Trading Up 1.1 %
Shares of CPRT opened at $56.22 on Wednesday. The company’s 50 day simple moving average is $58.96 and its 200-day simple moving average is $54.65. Copart, Inc. has a 12-month low of $47.31 and a 12-month high of $64.38. The firm has a market cap of $54.17 billion, a PE ratio of 39.59 and a beta of 1.33.
Copart (NASDAQ:CPRT – Get Free Report) last issued its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. Copart had a net margin of 31.92% and a return on equity of 18.96%. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period last year, the firm posted $0.34 EPS. Copart’s revenue for the quarter was up 12.4% on a year-over-year basis. As a group, equities research analysts forecast that Copart, Inc. will post 1.57 EPS 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.
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