Copart, Inc. (NASDAQ:CPRT) Stock Position Raised by Gries Financial LLC

Gries Financial LLC boosted its position in shares of Copart, Inc. (NASDAQ:CPRT) by 4.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,805 shares of the business services provider’s stock after purchasing an additional 368 shares during the period. Gries Financial LLC’s holdings in Copart were worth $505,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of CPRT. Principal Financial Group Inc. lifted its stake in Copart by 2.5% in the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock worth $2,037,130,000 after acquiring an additional 941,858 shares in the last quarter. State Street Corp increased its holdings 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 valued at $1,789,877,000 after purchasing an additional 120,939 shares during the period. Edgewood Management LLC lifted its position in shares of Copart by 0.6% in the third quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider’s stock worth $1,077,119,000 after purchasing an additional 125,220 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Copart by 1.6% during the third quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider’s stock worth $979,547,000 after purchasing an additional 291,580 shares during the period. Finally, Barclays PLC increased its stake in 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 buying an additional 21,710 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

NASDAQ:CPRT opened at $58.56 on Friday. The company has a market capitalization of $56.42 billion, a P/E ratio of 41.24 and a beta of 1.33. The stock’s 50 day moving average price is $59.21 and its 200 day moving average price is $54.90. Copart, Inc. has a 52 week low of $47.92 and a 52 week high of $64.38.

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, meeting analysts’ consensus estimates of $0.37. The business 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%. Copart’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.34 EPS. As a group, sell-side analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lifted their target price on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th.

Insider Activity

In other news, Chairman A Jayson Adair sold 251,423 shares of Copart 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel J. Englander sold 235,480 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. 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. Insiders own 9.68% of the company’s stock.

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.