Copart, Inc. (NASDAQ:CPRT) Stake Raised by Legacy Private Trust Co.

Legacy Private Trust Co. increased its holdings in Copart, Inc. (NASDAQ:CPRT) by 9.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,937 shares of the business services provider’s stock after buying an additional 950 shares during the quarter. Legacy Private Trust Co.’s holdings in Copart were worth $628,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CPRT. Jensen Investment Management Inc. boosted its position in Copart by 2,466.0% during 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 acquiring an additional 3,398,423 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Copart by 462.8% during the third quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock valued at $192,240,000 after purchasing an additional 3,016,795 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Copart by 335.8% during the third quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock valued at $149,471,000 after purchasing an additional 2,084,626 shares in the last quarter. Comgest Global Investors S.A.S. lifted 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 worth $83,153,000 after purchasing an additional 1,390,146 shares during the period. Finally, Kimelman & Baird LLC bought a new position in Copart in the 2nd quarter valued at about $70,307,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Stock Performance

Shares of CPRT stock opened at $56.78 on Thursday. Copart, Inc. has a 1 year low of $46.82 and a 1 year high of $64.38. The stock has a market cap of $54.71 billion, a PE ratio of 39.99 and a beta of 1.33. The business’s fifty day moving average is $58.71 and its 200-day moving average is $54.63.

Copart (NASDAQ:CPRT) last announced 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 return on equity of 18.96% and a net margin of 31.92%. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter last year, the business posted $0.34 earnings per share. The company’s quarterly revenue was up 12.4% on a year-over-year basis. Equities research analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Transactions at Copart

In related 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 sale, the chairman now directly 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $56.84, for a total value of $13,384,683.20. The disclosure for this sale can be found here. Insiders have sold 650,213 shares of company stock valued at $39,199,813 in the last quarter. Insiders own 9.68% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.