Copart, Inc. (NASDAQ:CPRT) Shares Sold by Armstrong Advisory Group Inc.

Armstrong Advisory Group Inc. decreased its holdings in Copart, Inc. (NASDAQ:CPRT) by 0.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,368 shares of the business services provider’s stock after selling 366 shares during the quarter. Copart comprises about 0.7% of Armstrong Advisory Group Inc.’s portfolio, making the stock its 26th biggest position. Armstrong Advisory Group Inc.’s holdings in Copart were worth $8,170,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Kieckhefer Group LLC acquired a new position in Copart during the 4th quarter valued at approximately $3,962,000. Sanctuary Advisors LLC raised its stake in Copart by 21.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 52,767 shares of the business services provider’s stock worth $2,765,000 after acquiring an additional 9,222 shares during the last quarter. Geode Capital Management LLC lifted its position in 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 during the period. Kinsale Capital Group Inc. grew its stake in Copart by 17.7% during the 3rd quarter. Kinsale Capital Group Inc. now owns 89,979 shares of the business services provider’s stock valued at $4,715,000 after purchasing an additional 13,554 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Copart in the second quarter valued at about $5,418,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Transactions at Copart

In related news, Director Diane M. Morefield sold 30,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the sale, the director now owns 20,000 shares in the company, valued at approximately $1,160,200. This trade represents a 60.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel J. Englander sold 235,480 shares of the company’s 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 disclosure for this sale can be found here. Insiders have sold 650,213 shares of company stock valued at $39,199,813 in the last 90 days. 9.68% of the stock is currently owned by company insiders.

Copart Stock Performance

NASDAQ:CPRT opened at $56.40 on Thursday. The firm’s fifty day moving average is $59.03 and its two-hundred day moving average is $54.66. The firm has a market cap of $54.34 billion, a price-to-earnings ratio of 39.72 and a beta of 1.31. Copart, Inc. has a one year low of $47.31 and a one year high of $64.38.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, hitting analysts’ consensus estimates of $0.37. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.34 earnings per share. As a group, equities research analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

About Copart

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.