Covey Capital Advisors LLC Has $4.27 Million Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Covey Capital Advisors LLC cut its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 6.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 74,321 shares of the business services provider’s stock after selling 5,046 shares during the quarter. Copart comprises approximately 4.8% of Covey Capital Advisors LLC’s portfolio, making the stock its 8th biggest position. Covey Capital Advisors LLC’s holdings in Copart were worth $4,265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of CPRT. Eastern Bank purchased a new stake in shares of Copart during the 3rd quarter valued at about $29,000. Quarry LP bought a new stake in shares of Copart during the 3rd quarter valued at $29,000. Ashton Thomas Securities LLC bought a new stake in shares of Copart during the 3rd quarter valued at $33,000. True Wealth Design LLC grew its position in shares of 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 acquiring an additional 608 shares during the period. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Copart during the 4th quarter valued at $54,000. 85.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. upped 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.

Insider Activity

In related news, Chairman A Jayson Adair sold 251,423 shares of the stock in a transaction dated 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 sale, the chairman now directly owns 14,436,557 shares of the company’s stock, valued at $920,907,971.03. This represents a 1.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel J. Englander sold 235,480 shares of the stock in a transaction dated 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 three months, insiders have sold 650,213 shares of company stock worth $39,199,813. 9.68% of the stock is currently owned by corporate insiders.

Copart Stock Down 2.5 %

CPRT opened at $58.22 on Friday. The firm has a 50-day simple moving average of $58.07 and a two-hundred day simple moving average of $55.61. Copart, Inc. has a 52 week low of $48.05 and a 52 week high of $64.38. The company has a market capitalization of $56.10 billion, a PE ratio of 41.00 and a beta of 1.33.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.38 by $0.02. Copart had a net margin of 31.92% and a return on equity of 18.96%. As a group, sell-side analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

About Copart

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.