Litman Gregory Wealth Management LLC Sells 3,800 Shares of Copart, Inc. (NASDAQ:CPRT)

Litman Gregory Wealth Management LLC lowered its stake in Copart, Inc. (NASDAQ:CPRT) by 2.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 166,211 shares of the business services provider’s stock after selling 3,800 shares during the quarter. Litman Gregory Wealth Management LLC’s holdings in Copart were worth $9,539,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Principal Financial Group Inc. increased its position in Copart by 2.5% in the third quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock worth $2,037,130,000 after purchasing an additional 941,858 shares during the last quarter. State Street Corp grew its stake in shares of Copart by 0.4% in the 3rd quarter. State Street Corp now owns 34,157,967 shares of the business services provider’s stock worth $1,789,877,000 after buying an additional 120,939 shares in the last quarter. Edgewood Management LLC increased its holdings in shares of Copart by 0.6% in the 3rd quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider’s stock worth $1,077,119,000 after buying an additional 125,220 shares during the last quarter. Geode Capital Management LLC raised its position in shares of 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 buying an additional 291,580 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of Copart by 0.4% in the 3rd quarter. Barclays PLC now owns 6,042,734 shares of the business services provider’s stock valued at $316,639,000 after acquiring an additional 21,710 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Analysts Set New Price Targets

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

Copart Stock Down 1.1 %

NASDAQ CPRT opened at $57.93 on Friday. Copart, Inc. has a 52 week low of $47.92 and a 52 week high of $64.38. The firm has a market capitalization of $55.82 billion, a price-to-earnings ratio of 40.80 and a beta of 1.33. The company has a fifty day moving average of $59.11 and a two-hundred day moving average of $54.93.

Copart (NASDAQ:CPRT) last released its quarterly 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 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 firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.34 EPS. Equities research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Insider Activity at Copart

In other news, Director Thomas N. Tryforos sold 83,310 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $61.86, for a total transaction of $5,153,556.60. Following the transaction, the director now directly owns 7,850 shares of the company’s stock, valued at approximately $485,601. This trade represents a 91.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daniel J. Englander sold 235,480 shares of the business’s stock in a transaction that occurred 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 sold a total of 650,213 shares of company stock worth $39,199,813 in the last quarter. 9.68% of the stock is owned by company insiders.

Copart Company 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.