OLD National Bancorp IN Sells 77,203 Shares of Copart, Inc. (NASDAQ:CPRT)

OLD National Bancorp IN lowered its position in shares of Copart, Inc. (NASDAQ:CPRT) by 21.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 278,040 shares of the business services provider’s stock after selling 77,203 shares during the period. OLD National Bancorp IN’s holdings in Copart were worth $15,957,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Optimum Investment Advisors raised its holdings in Copart by 141.5% during the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after purchasing an additional 300 shares during the last quarter. Eastern Bank bought a new stake in shares of Copart in the 3rd quarter valued at $29,000. Quarry LP acquired a new position in shares of Copart during the 3rd quarter valued at $29,000. Ashton Thomas Securities LLC bought a new position in Copart during the third quarter worth $33,000. Finally, True Wealth Design LLC grew its holdings in Copart by 1,737.1% in the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock worth $34,000 after purchasing an additional 608 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. increased their price objective 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.

Insider Activity at Copart

In other Copart news, Chairman A Jayson Adair sold 251,423 shares of the firm’s stock in a transaction 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 transaction, the chairman now directly owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. This trade represents a 1.71 % decrease in their position. The sale 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 on Monday, December 23rd. The stock was sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the transaction, the director now directly owns 20,000 shares in the company, 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. In the last quarter, insiders have sold 650,213 shares of company stock valued at $39,199,813. 9.68% of the stock is owned by corporate insiders.

Copart Stock Up 0.0 %

Shares of NASDAQ:CPRT opened at $57.32 on Thursday. Copart, Inc. has a twelve month low of $47.92 and a twelve month high of $64.38. The stock’s 50 day moving average is $59.18 and its 200-day moving average is $54.88. The firm has a market capitalization of $55.23 billion, a price-to-earnings ratio of 40.37 and a beta of 1.33.

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