Pinnacle Financial Partners Inc Decreases Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Pinnacle Financial Partners Inc reduced its position in shares of Copart, Inc. (NASDAQ:CPRT) by 0.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 430,979 shares of the business services provider’s stock after selling 200 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Copart were worth $24,087,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CPRT. Principal Financial Group Inc. boosted its stake in Copart by 2.5% in the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock worth $2,037,130,000 after purchasing an additional 941,858 shares during the period. State Street Corp boosted its stake in Copart by 0.4% in the 3rd quarter. State Street Corp now owns 34,157,967 shares of the business services provider’s stock worth $1,789,877,000 after purchasing an additional 120,939 shares during the period. Edgewood Management LLC boosted its stake in Copart by 0.6% in the 3rd quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider’s stock worth $1,077,119,000 after purchasing an additional 125,220 shares during the period. Geode Capital Management LLC raised its holdings in shares of Copart by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider’s stock worth $979,547,000 after acquiring an additional 291,580 shares in the last quarter. Finally, Barclays PLC grew its position in Copart by 0.4% in the 3rd quarter. Barclays PLC now owns 6,042,734 shares of the business services provider’s stock valued at $316,639,000 after acquiring an additional 21,710 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Copart Stock Performance

NASDAQ:CPRT opened at $56.61 on Friday. The stock has a 50-day simple moving average of $57.97 and a 200-day simple moving average of $55.65. The stock has a market cap of $54.55 billion, a P/E ratio of 39.87 and a beta of 1.33. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38.

Copart (NASDAQ:CPRT) last issued its 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. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. On average, equities research analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Insider Transactions at Copart

In other news, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the sale, the chairman now directly owns 14,436,557 shares of the company’s stock, valued at approximately $920,907,971.03. The trade was a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel J. Englander sold 235,480 shares of Copart stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $56.84, for a total value of $13,384,683.20. The disclosure for this sale can be found here. Insiders have sold 650,213 shares of company stock worth $39,199,813 over the last quarter. 9.68% of the stock is currently owned by 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.