PNC Financial Services Group Inc. Lowers Position in Copart, Inc. (NASDAQ:CPRT)

PNC Financial Services Group Inc. decreased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 1.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 238,699 shares of the business services provider’s stock after selling 4,006 shares during the period. PNC Financial Services Group Inc.’s holdings in Copart were worth $13,699,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CPRT. Quarry LP purchased a new stake in Copart in the third quarter worth $29,000. Ashton Thomas Securities LLC bought a new stake in shares of Copart during the 3rd quarter valued at $33,000. True Wealth Design LLC grew its position 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 worth $34,000 after buying an additional 608 shares during the period. Retirement Wealth Solutions LLC bought a new position in shares of Copart in the 4th quarter worth about $54,000. Finally, Continuum Advisory LLC lifted its position in Copart by 88.6% during the 3rd quarter. Continuum Advisory LLC now owns 962 shares of the business services provider’s stock valued at $55,000 after acquiring an additional 452 shares during the period. Institutional investors own 85.78% of the company’s stock.

Copart Trading Up 0.2 %

Shares of NASDAQ:CPRT opened at $52.91 on Wednesday. The stock has a fifty day simple moving average of $56.96 and a two-hundred day simple moving average of $56.01. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38. The stock has a market capitalization of $51.12 billion, a price-to-earnings ratio of 35.51 and a beta of 1.30.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.02. Copart had a return on equity of 19.31% and a net margin of 32.27%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. As a group, equities research analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Insiders Place Their Bets

In other news, Director Daniel J. Englander sold 235,480 shares of the business’s stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Diane M. Morefield sold 30,000 shares of the stock in a transaction 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 directly owns 20,000 shares in the company, valued at $1,160,200. This trade represents a 60.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 315,480 shares of company stock valued at $18,007,983. Insiders own 9.68% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.