Central Pacific Bank Trust Division Sells 1,338 Shares of Copart, Inc. (NASDAQ:CPRT)

Central Pacific Bank Trust Division reduced its position in shares of Copart, Inc. (NASDAQ:CPRT) by 7.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,736 shares of the business services provider’s stock after selling 1,338 shares during the period. Central Pacific Bank Trust Division’s holdings in Copart were worth $1,018,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CPRT. Rothschild Investment LLC bought a new stake in shares of Copart during the 2nd quarter worth $53,000. Commonwealth Equity Services LLC lifted its holdings in shares of Copart by 0.7% in the second quarter. Commonwealth Equity Services LLC now owns 149,390 shares of the business services provider’s stock worth $8,091,000 after acquiring an additional 1,098 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of Copart by 13.3% in the 2nd quarter. Larson Financial Group LLC now owns 5,256 shares of the business services provider’s stock valued at $285,000 after purchasing an additional 616 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Copart by 5.6% during the 2nd quarter. Arizona State Retirement System now owns 250,969 shares of the business services provider’s stock valued at $13,592,000 after purchasing an additional 13,270 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. increased its position in Copart by 374.1% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 2,560 shares of the business services provider’s stock worth $139,000 after purchasing an additional 2,020 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors.

Copart Trading Up 1.0 %

NASDAQ:CPRT opened at $56.91 on Friday. The stock’s 50-day moving average is $58.44 and its 200-day moving average is $54.58. Copart, Inc. has a 1-year low of $46.21 and a 1-year high of $64.38. The stock has a market cap of $54.83 billion, a P/E ratio of 40.08 and a beta of 1.31.

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

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. boosted their target price on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th.

Insider Buying and Selling

In other Copart news, 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 transaction 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Diane M. Morefield sold 30,000 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the completion of the sale, the director now directly owns 20,000 shares in the company, valued at approximately $1,160,200. This represents a 60.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 364,733 shares of company stock valued at $22,932,130 in the last three months. Insiders own 9.68% of the company’s stock.

About Copart

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.