ING Groep NV Sells 250,788 Shares of Copart, Inc. (NASDAQ:CPRT)

ING Groep NV trimmed its holdings in Copart, Inc. (NASDAQ:CPRT) by 68.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 116,508 shares of the business services provider’s stock after selling 250,788 shares during the quarter. ING Groep NV’s holdings in Copart were worth $6,686,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Eastern Bank bought a new stake in shares of Copart in the 3rd quarter worth approximately $29,000. Quarry LP bought a new stake in shares of Copart in the 3rd quarter worth approximately $29,000. Ashton Thomas Securities LLC bought a new stake in shares of Copart in the 3rd quarter worth approximately $33,000. True Wealth Design LLC lifted its holdings in shares of Copart by 1,737.1% in the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock worth $34,000 after acquiring an additional 608 shares during the last quarter. Finally, Retirement Wealth Solutions LLC bought a new stake in Copart during the 4th quarter valued at $54,000. 85.78% of the stock is currently owned by institutional investors.

Copart Stock Down 2.8 %

Shares of CPRT opened at $56.61 on Friday. The stock has a market capitalization of $54.55 billion, a P/E ratio of 39.87 and a beta of 1.33. The firm has a fifty day simple moving average of $57.97 and a two-hundred day simple moving average of $55.65. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.02. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. Sell-side analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Copart news, Chairman A Jayson Adair sold 251,423 shares of the company’s stock in a transaction 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 completion of the transaction, the chairman now directly owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. This represents a 1.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of the company’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 ninety days, insiders sold 650,213 shares of company stock worth $39,199,813. 9.68% of the stock is currently owned by corporate insiders.

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.