Copart, Inc. (NASDAQ:CPRT) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System reduced its position in Copart, Inc. (NASDAQ:CPRT) by 0.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 384,708 shares of the business services provider’s stock after selling 600 shares during the quarter. State of Michigan Retirement System’s holdings in Copart were worth $22,078,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CPRT. Quarry LP purchased a new stake in Copart in the 3rd quarter valued at $29,000. Ashton Thomas Securities LLC acquired a new position in Copart in the third quarter valued at $33,000. True Wealth Design LLC raised its holdings 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 valued at $34,000 after buying an additional 608 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new stake in shares of Copart during the fourth quarter worth about $54,000. Finally, Continuum Advisory LLC grew its holdings in shares of Copart by 88.6% during the third quarter. Continuum Advisory LLC now owns 962 shares of the business services provider’s stock worth $55,000 after buying an additional 452 shares during the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Thomas N. Tryforos sold 83,310 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $61.86, for a total transaction of $5,153,556.60. Following the transaction, the director now directly owns 7,850 shares of the company’s stock, valued at $485,601. This represents a 91.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel J. Englander sold 235,480 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were 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 sold 398,790 shares of company stock valued at $23,161,540 over the last ninety days. Corporate insiders own 9.68% of the company’s stock.

Copart Price Performance

Shares of NASDAQ CPRT opened at $54.26 on Wednesday. The stock has a fifty day moving average price of $57.45 and a 200 day moving average price of $55.96. Copart, Inc. has a 1-year low of $48.05 and a 1-year high of $64.38. The company has a market cap of $52.28 billion, a PE ratio of 36.42 and a beta of 1.33.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.38 by $0.02. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. Analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. upped their price objective on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research note 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.