Redmond Asset Management LLC Cuts Stake in Copart, Inc. (NASDAQ:CPRT)

Redmond Asset Management LLC trimmed its position in shares of Copart, Inc. (NASDAQ:CPRT) by 2.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 96,324 shares of the business services provider’s stock after selling 2,265 shares during the period. Copart makes up about 1.4% of Redmond Asset Management LLC’s holdings, making the stock its 16th biggest holding. Redmond Asset Management LLC’s holdings in Copart were worth $5,528,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Eastern Bank purchased a new stake in Copart during the 3rd quarter valued at about $29,000. Quarry LP purchased a new stake in Copart during the 3rd quarter valued at about $29,000. Ashton Thomas Securities LLC purchased a new stake in Copart during the 3rd quarter valued at about $33,000. True Wealth Design LLC grew its position in Copart by 1,737.1% during the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 608 shares during the last quarter. Finally, Continuum Advisory LLC grew its position in Copart by 88.6% during the 3rd quarter. Continuum Advisory LLC now owns 962 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 452 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Thomas N. Tryforos sold 83,310 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $61.86, for a total value of $5,153,556.60. Following the transaction, the director now owns 7,850 shares in the company, valued at $485,601. This represents a 91.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman A Jayson Adair sold 251,423 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was 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 $920,907,971.03. This trade represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 650,213 shares of company stock valued at $39,199,813 in the last 90 days. 9.68% of the stock is currently owned by insiders.

Copart Stock Down 2.8 %

Shares of NASDAQ CPRT opened at $56.61 on Friday. The firm’s 50-day moving average price is $57.97 and its 200-day moving average price is $55.65. The company has a market cap of $54.55 billion, a PE ratio of 39.87 and a beta of 1.33. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. As a group, equities research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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 report on Tuesday, November 19th.

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.