Copart, Inc. (NASDAQ:CPRT) Shares Acquired by PineStone Asset Management Inc.

PineStone Asset Management Inc. lifted its stake in Copart, Inc. (NASDAQ:CPRT) by 192.4% in the 4th quarter, Holdings Channel reports. The firm owned 1,585,400 shares of the business services provider’s stock after purchasing an additional 1,043,200 shares during the quarter. Copart accounts for approximately 0.9% of PineStone Asset Management Inc.’s portfolio, making the stock its 29th biggest position. PineStone Asset Management Inc.’s holdings in Copart were worth $90,986,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Cadence Bank boosted its holdings in shares of Copart by 0.6% in the 3rd quarter. Cadence Bank now owns 31,549 shares of the business services provider’s stock valued at $1,653,000 after purchasing an additional 178 shares during the last quarter. Everpar Advisors LLC raised its position in shares of Copart by 4.3% in the 4th quarter. Everpar Advisors LLC now owns 4,811 shares of the business services provider’s stock worth $276,000 after buying an additional 199 shares during the period. Fifth Third Wealth Advisors LLC boosted its holdings in Copart by 2.3% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 9,226 shares of the business services provider’s stock valued at $529,000 after acquiring an additional 208 shares during the last quarter. Covestor Ltd grew its position in Copart by 5.1% during the third quarter. Covestor Ltd now owns 4,299 shares of the business services provider’s stock valued at $225,000 after acquiring an additional 209 shares during the period. Finally, B. Riley Wealth Advisors Inc. increased its stake in Copart by 0.8% during the third quarter. B. Riley Wealth Advisors Inc. now owns 27,631 shares of the business services provider’s stock worth $1,447,000 after acquiring an additional 213 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling at Copart

In related news, Chairman A Jayson Adair sold 251,423 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total value of $16,038,273.17. Following the transaction, the chairman now owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Diane M. Morefield sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $58.01, for a total value of $1,740,300.00. Following the sale, the director now owns 20,000 shares of the company’s stock, valued at approximately $1,160,200. This trade represents a 60.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 650,213 shares of company stock valued at $39,199,813 over the last 90 days. 9.68% of the stock is owned by corporate insiders.

Copart Trading Down 0.7 %

NASDAQ:CPRT opened at $59.39 on Friday. The firm’s fifty day simple moving average is $58.29 and its 200 day simple moving average is $55.41. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38. The firm has a market capitalization of $57.22 billion, a price-to-earnings ratio of 41.82 and a beta of 1.33.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, hitting 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 for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the firm posted $0.34 earnings per share. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. On average, analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Analyst Ratings Changes

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 report on Tuesday, November 19th.

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.