Toronto Dominion Bank Trims Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Toronto Dominion Bank lowered its position in Copart, Inc. (NASDAQ:CPRT) by 3.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 431,083 shares of the business services provider’s stock after selling 14,101 shares during the quarter. Toronto Dominion Bank’s holdings in Copart were worth $22,589,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Optimum Investment Advisors lifted its stake in Copart by 141.5% in the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after buying an additional 300 shares during the last quarter. Eastern Bank purchased a new stake in Copart in the third quarter valued at approximately $29,000. Quarry LP purchased a new stake in Copart in the third quarter valued at approximately $29,000. Crewe Advisors LLC lifted its stake in Copart by 98.6% in the second quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock valued at $31,000 after buying an additional 280 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in Copart by 283.3% in the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after buying an additional 425 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling

In other Copart news, Director Thomas N. Tryforos sold 83,310 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $61.86, for a total transaction of $5,153,556.60. Following the completion of the sale, the director now owns 7,850 shares in the company, valued at $485,601. This trade represents a 91.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman A Jayson Adair sold 251,423 shares of the firm’s stock in a transaction that occurred 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 sale, the chairman now owns 14,436,557 shares of the company’s stock, valued at approximately $920,907,971.03. This trade represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. 9.68% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CPRT has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Robert W. Baird dropped their target price on Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th.

Copart Price Performance

Shares of CPRT stock opened at $62.08 on Friday. The business’s fifty day moving average price is $56.84 and its 200 day moving average price is $53.98. Copart, Inc. has a 1-year low of $46.21 and a 1-year high of $64.38. The firm has a market capitalization of $59.82 billion, a PE ratio of 43.72 and a beta of 1.31.

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