Truist Financial Corp Sells 7,490 Shares of Copart, Inc. (NASDAQ:CPRT)

Truist Financial Corp lowered its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 7.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,109 shares of the business services provider’s stock after selling 7,490 shares during the period. Truist Financial Corp’s holdings in Copart were worth $5,688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. CIBC Asset Management Inc raised its position in shares of Copart by 3.7% during the fourth quarter. CIBC Asset Management Inc now owns 299,025 shares of the business services provider’s stock valued at $17,161,000 after buying an additional 10,535 shares during the last quarter. Pittenger & Anderson Inc. raised its position in shares of Copart by 30.7% during the fourth quarter. Pittenger & Anderson Inc. now owns 98,145 shares of the business services provider’s stock valued at $5,633,000 after buying an additional 23,052 shares during the last quarter. Sanctuary Advisors LLC increased its position in Copart by 5.8% in the fourth quarter. Sanctuary Advisors LLC now owns 55,822 shares of the business services provider’s stock worth $3,269,000 after purchasing an additional 3,055 shares during the last quarter. Catalyst Capital Advisors LLC increased its position in Copart by 82.1% in the fourth quarter. Catalyst Capital Advisors LLC now owns 3,219 shares of the business services provider’s stock worth $185,000 after purchasing an additional 1,451 shares during the last quarter. Finally, Blue Zone Wealth Advisors LLC increased its position in Copart by 2.5% in the fourth quarter. Blue Zone Wealth Advisors LLC now owns 103,758 shares of the business services provider’s stock worth $5,955,000 after purchasing an additional 2,516 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling at Copart

In other news, Director Thomas N. Tryforos sold 83,310 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 7,850 shares of the company’s stock, valued at approximately $485,601. The trade was a 91.39 % decrease in their ownership of the stock. The sale 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 business’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 sale, the director now directly owns 20,000 shares of the company’s stock, valued at $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 worth $39,199,813 over the last quarter. Insiders own 9.68% of the company’s stock.

Analysts Set New Price Targets

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 Stock Performance

Shares of CPRT opened at $56.61 on Friday. The company’s fifty day moving average is $57.97 and its 200 day moving average is $55.69. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38. The stock has a market capitalization of $54.55 billion, a PE ratio of 38.00 and a beta of 1.33.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. Copart had a net margin of 32.27% and a return on equity of 19.31%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. As a group, research analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

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.