American Trust Buys Shares of 11,403 Copart, Inc. (NASDAQ:CPRT)

American Trust purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT) during the third quarter, HoldingsChannel reports. The fund purchased 11,403 shares of the business services provider’s stock, valued at approximately $598,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Franklin Resources Inc. raised its stake in Copart by 335.8% during the 3rd quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock worth $149,471,000 after buying an additional 2,084,626 shares during the period. Peapack Gladstone Financial Corp increased its holdings in shares of Copart by 6.5% in the third quarter. Peapack Gladstone Financial Corp now owns 104,650 shares of the business services provider’s stock worth $5,484,000 after acquiring an additional 6,385 shares in the last quarter. Tidal Investments LLC raised its position in shares of Copart by 7.8% during the third quarter. Tidal Investments LLC now owns 88,324 shares of the business services provider’s stock worth $4,628,000 after purchasing an additional 6,421 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Copart during the 3rd quarter valued at about $317,000. Finally, Sanctuary Advisors LLC grew its position in shares of Copart by 21.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 52,767 shares of the business services provider’s stock valued at $2,765,000 after purchasing an additional 9,222 shares during the period. 85.78% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Thomas N. Tryforos sold 83,310 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $61.86, for a total transaction of $5,153,556.60. Following the sale, the director now owns 7,850 shares in the company, valued at approximately $485,601. This represents a 91.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman A Jayson Adair sold 251,423 shares of the stock in a transaction that occurred on 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 transaction, the chairman now directly 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 ownership of the stock. The disclosure for this sale can be found here. 9.68% of the stock is currently owned by corporate insiders.

Copart Price Performance

CPRT stock opened at $61.23 on Friday. The stock has a market capitalization of $59.00 billion, a P/E ratio of 43.12 and a beta of 1.31. Copart, Inc. has a fifty-two week low of $46.21 and a fifty-two week high of $64.38. The business has a 50-day moving average of $57.01 and a 200-day moving average of $54.03.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.37. Copart had a return on equity of 18.96% and a net margin of 31.92%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the firm posted $0.34 EPS. The business’s revenue was up 12.4% on a year-over-year basis. Equities analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

Wall Street Analysts Forecast Growth

CPRT has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their target price on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Robert W. Baird dropped their price objective on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th.

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.