Copart, Inc. (NASDAQ:CPRT) Stake Reduced by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. reduced its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 36.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,300 shares of the business services provider’s stock after selling 30,000 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in Copart were worth $3,059,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP bought a new position in Copart during the 3rd quarter worth $29,000. Ashton Thomas Securities LLC bought a new position in Copart during the 3rd quarter worth $33,000. True Wealth Design LLC grew its stake in 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 buying an additional 608 shares during the last quarter. Continuum Advisory LLC grew its stake in Copart by 88.6% during the 3rd quarter. Continuum Advisory LLC now owns 962 shares of the business services provider’s stock worth $55,000 after buying an additional 452 shares during the last quarter. Finally, Retirement Wealth Solutions LLC bought a new position in Copart during the 4th quarter worth $54,000. 85.78% of the stock is currently owned by institutional investors.

Copart Stock Performance

Shares of CPRT stock opened at $54.80 on Monday. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The stock has a fifty day moving average of $57.62 and a two-hundred day moving average of $55.92. The firm has a market capitalization of $52.80 billion, a PE ratio of 36.78 and a beta of 1.33.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Copart had a return on equity of 19.31% and a net margin of 32.27%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Equities research analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. upped their price objective on 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 news, Director Daniel J. Englander sold 235,480 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $56.84, for a total value of $13,384,683.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas N. Tryforos sold 83,310 shares of the company’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 of the company’s stock, valued at approximately $485,601. This trade represents a 91.39 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 398,790 shares of company stock worth $23,161,540. 9.68% of the stock is owned by company insiders.

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.