Ashford Capital Management Inc. cut its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 13.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 479,581 shares of the business services provider's stock after selling 74,681 shares during the period. Copart accounts for 3.1% of Ashford Capital Management Inc.'s portfolio, making the stock its 8th biggest position. Ashford Capital Management Inc.'s holdings in Copart were worth $25,130,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Optimum Investment Advisors increased its position in Copart by 141.5% during the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider's stock valued at $27,000 after purchasing an additional 300 shares during the period. Eastern Bank purchased a new position in shares of Copart during the third quarter valued at about $29,000. Quarry LP bought a new position in Copart in the third quarter worth about $29,000. Crewe Advisors LLC raised its position in shares of Copart by 98.6% in the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider's stock worth $31,000 after acquiring an additional 280 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in shares of Copart by 283.3% in the 2nd 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 during the period. Institutional investors own 85.78% of the company's stock.
In other news, Chairman A Jayson Adair sold 251,423 shares of the business's stock in a transaction on Tuesday, November 26th. The stock was 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 owns 14,436,557 shares in the company, valued at $920,907,971.03. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas N. Tryforos sold 83,310 shares of the company's stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $61.86, for a total value of $5,153,556.60. Following 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. 9.68% of the stock is owned by company insiders.
Several brokerages recently weighed in on CPRT. Robert W. Baird reduced their price target on Copart from $58.00 to $56.00 and set an "outperform" rating on the stock in a research note on Thursday, September 5th. JPMorgan Chase & Co. increased their price target on shares of Copart from $55.00 to $60.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 19th.
Read Our Latest Stock Analysis on CPRT
Shares of CPRT opened at $61.77 on Tuesday. Copart, Inc. has a 52 week low of $46.21 and a 52 week high of $64.38. The stock has a market cap of $59.52 billion, a P/E ratio of 43.50 and a beta of 1.31. The business's 50 day moving average price is $56.26 and its 200-day moving average price is $53.81.
Copart (NASDAQ:CPRT - Get Free Report) last released its earnings results on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, hitting analysts' consensus estimates of $0.37. The firm had revenue of $1.15 billion for 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 company's quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.34 earnings per share. On average, equities analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Copart, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Copart wasn't on the list.
While Copart currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.