Simplicity Solutions LLC Acquires 1,480 Shares of Copart, Inc. (NASDAQ:CPRT)

Simplicity Solutions LLC lifted its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 9.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,801 shares of the business services provider’s stock after acquiring an additional 1,480 shares during the quarter. Simplicity Solutions LLC’s holdings in Copart were worth $823,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Koshinski Asset Management Inc. boosted its stake in shares of Copart by 51.9% during the 4th quarter. Koshinski Asset Management Inc. now owns 8,555 shares of the business services provider’s stock worth $419,000 after acquiring an additional 2,924 shares during the period. NewEdge Wealth LLC acquired a new stake in Copart during the 4th quarter worth approximately $388,000. Mosaic Family Wealth Partners LLC acquired a new stake in Copart during the 4th quarter worth approximately $208,000. Lawson Kroeker Investment Management Inc. NE lifted its holdings in Copart by 1.3% during the 4th quarter. Lawson Kroeker Investment Management Inc. NE now owns 320,660 shares of the business services provider’s stock worth $15,712,000 after purchasing an additional 4,188 shares during the last quarter. Finally, Valeo Financial Advisors LLC acquired a new stake in Copart during the 4th quarter worth approximately $205,000. 85.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CPRT shares. StockNews.com cut Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. JPMorgan Chase & Co. lifted their price objective on Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Four investment 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, the company has a consensus rating of “Hold” and a consensus target price of $51.00.

Copart Price Performance

Shares of NASDAQ CPRT opened at $54.38 on Wednesday. Copart, Inc. has a fifty-two week low of $38.35 and a fifty-two week high of $58.58. The business has a fifty day moving average price of $54.20 and a two-hundred day moving average price of $49.93. The stock has a market capitalization of $52.29 billion, a PE ratio of 39.12 and a beta of 1.22.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share (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 the consensus estimate of $1.03 billion. During the same quarter in the previous year, the business posted $0.31 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, equities analysts expect that Copart, Inc. will post 1.42 EPS for the current year.

Insider Activity

In related news, Director Matt Blunt sold 100,000 shares of the business’s stock in a transaction 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Copart news, Chairman A Jayson Adair sold 600,000 shares of the company’s stock in a transaction dated 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 sale, the chairman now owns 19,687,980 shares in the company, valued at approximately $1,137,374,604.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Matt Blunt sold 100,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $51.06, for a total value of $5,106,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 985,000 shares of company stock worth $55,519,950. Insiders own 10.23% of the company’s stock.

Copart 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.