Retirement Systems of Alabama decreased its stake in Copart, Inc. (NASDAQ:CPRT – Free Report) by 0.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 727,292 shares of the business services provider’s stock after selling 1,626 shares during the period. Retirement Systems of Alabama’s holdings in Copart were worth $41,739,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Optimum Investment Advisors increased its position in Copart by 141.5% in the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after buying an additional 300 shares in the last quarter. Eastern Bank purchased a new stake in Copart in the third quarter worth about $29,000. Quarry LP bought a new position in shares of Copart in the third quarter worth about $29,000. Ashton Thomas Securities LLC bought a new position in shares of Copart in the third quarter worth about $33,000. Finally, True Wealth Design LLC boosted its stake in shares of Copart by 1,737.1% in the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock worth $34,000 after acquiring an additional 608 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.
Analyst Upgrades and Downgrades
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.
Insider Activity at Copart
In other news, Director Thomas N. Tryforos sold 83,310 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was 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 directly owns 7,850 shares of the company’s stock, valued at $485,601. This trade represents a 91.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman A Jayson Adair sold 251,423 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total value of $16,038,273.17. Following the completion of the sale, the chairman now directly owns 14,436,557 shares of the company’s stock, valued at $920,907,971.03. The trade was a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 650,213 shares of company stock valued at $39,199,813. Insiders own 9.68% of the company’s stock.
Copart Stock Up 0.2 %
NASDAQ CPRT opened at $57.86 on Wednesday. The firm has a market cap of $55.75 billion, a price-to-earnings ratio of 40.75 and a beta of 1.33. The business has a 50-day moving average price of $58.88 and a 200-day moving average price of $55.03. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38.
Copart (NASDAQ:CPRT – Get Free Report) last announced its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, meeting analysts’ consensus estimates of $0.37. Copart had a return on equity of 18.96% and a net margin of 31.92%. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the company earned $0.34 earnings per share. The firm’s revenue was up 12.4% on a year-over-year basis. Research analysts expect 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.
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