Copart, Inc. (NASDAQ:CPRT) Shares Sold by West Coast Financial LLC

West Coast Financial LLC decreased its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 15.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,200 shares of the business services provider’s stock after selling 1,164 shares during the quarter. West Coast Financial LLC’s holdings in Copart were worth $356,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jensen Investment Management Inc. boosted its stake in Copart by 2,466.0% in the 3rd quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock worth $185,299,000 after buying an additional 3,398,423 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Copart by 462.8% in the third quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock worth $192,240,000 after acquiring an additional 3,016,795 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Copart by 335.8% in the third quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock worth $149,471,000 after acquiring an additional 2,084,626 shares during the last quarter. Comgest Global Investors S.A.S. grew its holdings in Copart by 706.6% in the third quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider’s stock valued at $83,153,000 after purchasing an additional 1,390,146 shares during the period. Finally, Kimelman & Baird LLC acquired a new position in Copart during the second quarter worth approximately $70,307,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Copart

In other news, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the sale, the chairman now owns 14,436,557 shares of the company’s stock, 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 filing with the SEC, which is accessible through the SEC website. Also, Director Diane M. Morefield sold 30,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $58.01, for a total value of $1,740,300.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, 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. Insiders have sold 650,213 shares of company stock worth $39,199,813 over the last quarter. 9.68% of the stock is owned by corporate insiders.

Copart Price Performance

NASDAQ CPRT opened at $56.05 on Thursday. Copart, Inc. has a 1-year low of $47.31 and a 1-year high of $64.38. The firm has a market capitalization of $54.01 billion, a P/E ratio of 39.47 and a beta of 1.33. The business’s 50-day simple moving average is $59.05 and its 200-day simple moving average is $54.68.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.37. Copart had a net margin of 31.92% and a return on equity of 18.96%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous year, the company posted $0.34 earnings per share. Copart’s revenue was up 12.4% compared to the same quarter last year. On average, equities research analysts expect that Copart, Inc. will post 1.57 EPS 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.