Norris Perne & French LLP MI Sells 4,800 Shares of Copart, Inc. (NASDAQ:CPRT)

Norris Perne & French LLP MI reduced its position in Copart, Inc. (NASDAQ:CPRT) by 15.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 26,366 shares of the business services provider’s stock after selling 4,800 shares during the period. Norris Perne & French LLP MI’s holdings in Copart were worth $1,513,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, Director Daniel J. Englander sold 235,480 shares of Copart stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $56.84, for a total value of $13,384,683.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman A Jayson Adair sold 251,423 shares of the stock in a transaction 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 transaction, the chairman now directly owns 14,436,557 shares of the company’s stock, valued at approximately $920,907,971.03. This represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 650,213 shares of company stock worth $39,199,813. 9.68% of the stock is owned by corporate insiders.

Copart Price Performance

NASDAQ:CPRT opened at $58.56 on Friday. The company has a 50 day moving average price of $59.21 and a 200-day moving average price of $54.90. Copart, Inc. has a 1-year low of $47.92 and a 1-year high of $64.38. The firm 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 issued its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.37. Copart had a net margin of 31.92% and a return on equity of 18.96%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the firm posted $0.34 earnings per share. The company’s revenue was up 12.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Copart, Inc. will post 1.57 earnings per share 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.