Copart, Inc. (NASDAQ:CPRT) Shares Sold by Summit Trail Advisors LLC

Summit Trail Advisors LLC lessened its stake in Copart, Inc. (NASDAQ:CPRT) by 10.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,234 shares of the business services provider’s stock after selling 625 shares during the period. Summit Trail Advisors LLC’s holdings in Copart were worth $256,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB raised its holdings in Copart by 64.1% in the 4th quarter. Nordea Investment Management AB now owns 1,441,839 shares of the business services provider’s stock worth $70,448,000 after purchasing an additional 563,233 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Copart by 1.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,848,048 shares of the business services provider’s stock worth $139,554,000 after buying an additional 44,248 shares during the period. CHURCHILL MANAGEMENT Corp boosted its position in shares of Copart by 57.9% during the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 63,521 shares of the business services provider’s stock worth $3,113,000 after purchasing an additional 23,304 shares during the period. Artemis Investment Management LLP boosted its position in shares of Copart by 29.0% during the fourth quarter. Artemis Investment Management LLP now owns 1,167,186 shares of the business services provider’s stock worth $57,193,000 after buying an additional 262,499 shares during the period. Finally, Checchi Capital Advisers LLC raised its holdings in shares of Copart by 72.5% in the 3rd quarter. Checchi Capital Advisers LLC now owns 6,228 shares of the business services provider’s stock valued at $268,000 after buying an additional 2,618 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Copart Price Performance

Copart stock opened at $55.16 on Thursday. The stock has a market capitalization of $53.04 billion, a PE ratio of 39.68 and a beta of 1.22. Copart, Inc. has a 12 month low of $39.57 and a 12 month high of $58.58. The business has a 50 day simple moving average of $55.57 and a 200-day simple moving average of $50.98.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.02). Copart had a net margin of 33.41% and a return on equity of 21.55%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the business earned $0.31 earnings per share. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Copart, Inc. will post 1.42 EPS for the current year.

Insider Buying and Selling at Copart

In related news, Director Matt Blunt sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $51.06, for a total value of $5,106,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Chairman A Jayson Adair sold 600,000 shares of Copart stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total value of $34,662,000.00. Following the transaction, the chairman now owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matt Blunt sold 100,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $51.06, for a total transaction of $5,106,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 985,000 shares of company stock valued at $55,519,950. Corporate insiders own 10.23% of the company’s stock.

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.