Canandaigua National Trust Co of Florida Invests $325,000 in Copart, Inc. (NASDAQ:CPRT)

Canandaigua National Trust Co of Florida purchased a new stake in Copart, Inc. (NASDAQ:CPRT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,658 shares of the business services provider’s stock, valued at approximately $325,000.

Other large investors also recently added to or reduced their stakes in the company. Optimum Investment Advisors raised its stake in shares of 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 in the last quarter. Eastern Bank bought a new stake in Copart in the 3rd quarter valued at $29,000. Quarry LP bought a new position in Copart during the third quarter valued at about $29,000. Meeder Asset Management Inc. raised its stake in shares of Copart by 283.3% in the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 425 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Copart in the 3rd quarter valued at $33,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Copart

In other news, Chairman A Jayson Adair sold 251,423 shares of the firm’s 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 transaction, the chairman now owns 14,436,557 shares of the company’s stock, valued at approximately $920,907,971.03. This trade represents a 1.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas N. Tryforos sold 83,310 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $61.86, for a total transaction of $5,153,556.60. Following the completion of the transaction, the director now directly owns 7,850 shares in the company, valued at approximately $485,601. The trade was a 91.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 414,733 shares of company stock worth $25,815,130. Insiders own 9.68% of the company’s stock.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. increased their price objective on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th.

Copart Stock Down 0.6 %

CPRT stock traded down $0.33 during midday trading on Monday, reaching $56.58. 3,130,411 shares of the company’s stock traded hands, compared to its average volume of 3,609,667. The company has a 50-day simple moving average of $58.44 and a two-hundred day simple moving average of $54.58. Copart, Inc. has a 1-year low of $46.49 and a 1-year high of $64.38. The company has a market cap of $54.52 billion, a price-to-earnings ratio of 39.85 and a beta of 1.33.

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

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.