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

Norris Perne & French LLP MI trimmed its position in shares of Copart, Inc. (NASDAQ:CPRT) by 15.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,366 shares of the business services provider’s stock after selling 4,800 shares during the quarter. Norris Perne & French LLP MI’s holdings in Copart were worth $1,513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Activity at Copart

In related news, Chairman A Jayson Adair sold 251,423 shares of Copart 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 completion of the transaction, the chairman now owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. This trade represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas N. Tryforos sold 83,310 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $61.86, for a total value of $5,153,556.60. Following the completion of the sale, the director now directly owns 7,850 shares of the company’s stock, valued at $485,601. The trade was a 91.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 650,213 shares of company stock valued at $39,199,813. Insiders own 9.68% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Copart Price Performance

CPRT stock opened at $58.56 on Friday. The company has a market capitalization of $56.42 billion, a price-to-earnings ratio of 41.24 and a beta of 1.33. Copart, Inc. has a 1-year low of $47.92 and a 1-year high of $64.38. The business has a 50 day simple moving average of $59.21 and a two-hundred day simple moving average of $54.90.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, meeting the consensus estimate of $0.37. Copart had a net margin of 31.92% and a return on equity of 18.96%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period last year, the company posted $0.34 earnings per share. Copart’s quarterly revenue was up 12.4% on a year-over-year basis. Sell-side analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Copart 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.