Fiduciary Alliance LLC Takes Position in Copart, Inc. (NASDAQ:CPRT)

Fiduciary Alliance LLC purchased a new stake in shares of Copart, Inc. (NASDAQ:CPRT) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 4,644 shares of the business services provider’s stock, valued at approximately $267,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC increased its position in shares of Copart by 21.2% during the third quarter. Sanctuary Advisors LLC now owns 52,767 shares of the business services provider’s stock worth $2,765,000 after acquiring an additional 9,222 shares during the last quarter. Geode Capital Management LLC grew its stake in Copart by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider’s stock valued at $979,547,000 after purchasing an additional 291,580 shares in the last quarter. Kinsale Capital Group Inc. increased its holdings in Copart by 17.7% during the 3rd quarter. Kinsale Capital Group Inc. now owns 89,979 shares of the business services provider’s stock worth $4,715,000 after purchasing an additional 13,554 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Copart during the 2nd quarter valued at approximately $5,418,000. Finally, Oddo BHF Asset Management Sas acquired a new stake in shares of Copart during the third quarter worth approximately $1,206,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman A Jayson Adair sold 251,423 shares of the stock in a transaction dated 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 $920,907,971.03. This trade represents a 1.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Diane M. Morefield sold 30,000 shares of Copart stock in a transaction dated 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 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 have sold 650,213 shares of company stock valued at $39,199,813 over the last three months. Company insiders own 9.68% of the company’s stock.

Copart Stock Up 1.1 %

Shares of NASDAQ:CPRT opened at $56.22 on Wednesday. The company has a market cap of $54.17 billion, a PE ratio of 39.59 and a beta of 1.33. Copart, Inc. has a fifty-two week low of $47.31 and a fifty-two week high of $64.38. The firm has a 50-day simple moving average of $58.96 and a 200 day simple moving average of $54.65.

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

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. increased their price objective on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research note 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.