Massmutual Trust Co. FSB ADV Has $269,000 Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Massmutual Trust Co. FSB ADV lessened its holdings in Copart, Inc. (NASDAQ:CPRT) by 11.3% in the 1st quarter, Holdings Channel reports. The firm owned 4,651 shares of the business services provider’s stock after selling 592 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Copart were worth $269,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CPRT. Vanguard Group Inc. boosted its position in shares of Copart by 100.6% in the third quarter. Vanguard Group Inc. now owns 97,512,662 shares of the business services provider’s stock valued at $4,201,821,000 after acquiring an additional 48,891,984 shares during the period. Norges Bank bought a new stake in shares of Copart in the 4th quarter worth approximately $463,262,000. Wellington Management Group LLP increased its position in shares of Copart by 84.4% during the third quarter. Wellington Management Group LLP now owns 17,929,180 shares of the business services provider’s stock valued at $772,568,000 after purchasing an additional 8,205,757 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Copart by 79.1% in the third quarter. JPMorgan Chase & Co. now owns 17,359,152 shares of the business services provider’s stock valued at $748,006,000 after purchasing an additional 7,666,881 shares in the last quarter. Finally, Morgan Stanley boosted its stake in Copart by 102.2% during the third quarter. Morgan Stanley now owns 9,725,148 shares of the business services provider’s stock worth $419,057,000 after buying an additional 4,915,348 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. increased their price objective on shares of Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $51.00.

Insider Buying and Selling at Copart

In other news, Chairman A Jayson Adair sold 600,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the completion of the sale, the chairman now owns 19,687,980 shares of the company’s stock, valued at $1,137,374,604.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 10.23% of the company’s stock.

Copart Price Performance

Shares of CPRT stock opened at $54.01 on Friday. The stock’s fifty day simple moving average is $54.20 and its 200 day simple moving average is $52.32. Copart, Inc. has a one year low of $42.41 and a one year high of $58.58. The firm has a market cap of $51.97 billion, a price-to-earnings ratio of 38.04 and a beta of 1.26.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, May 16th. The business services provider reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. Copart had a net margin of 33.33% and a return on equity of 20.80%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the company earned $0.36 EPS. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, research analysts anticipate that Copart, Inc. will post 1.43 earnings per share for the current 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.