Gries Financial LLC Purchases 368 Shares of Copart, Inc. (NASDAQ:CPRT)

Gries Financial LLC grew its holdings in Copart, Inc. (NASDAQ:CPRT) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,805 shares of the business services provider’s stock after buying an additional 368 shares during the quarter. Gries Financial LLC’s holdings in Copart were worth $505,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Optimum Investment Advisors raised its stake in Copart by 141.5% during the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after acquiring an additional 300 shares in the last quarter. Eastern Bank acquired a new position in Copart during the 3rd quarter valued at about $29,000. Quarry LP acquired a new position in Copart in the third quarter valued at approximately $29,000. Ashton Thomas Securities LLC acquired a new position in shares of Copart in the 3rd quarter valued at $33,000. Finally, True Wealth Design LLC lifted its stake in Copart by 1,737.1% in the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock valued at $34,000 after buying an additional 608 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. boosted 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 Buying and Selling

In other Copart news, Director Daniel J. Englander sold 235,480 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matt Blunt sold 50,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total value of $2,883,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 650,213 shares of company stock valued at $39,199,813. 9.68% of the stock is owned by corporate insiders.

Copart Stock Up 2.2 %

Shares of NASDAQ CPRT opened at $58.56 on Friday. Copart, Inc. has a twelve month low of $47.92 and a twelve month high of $64.38. The company’s fifty day moving average is $59.21 and its 200-day moving average is $54.90. The stock has a market cap of $56.42 billion, a price-to-earnings ratio of 41.24 and a beta of 1.33.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.37. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. The company’s revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 earnings per share. On average, research analysts anticipate 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.