Copart, Inc. (NASDAQ:CPRT) Shares Sold by Baskin Financial Services Inc.

Baskin Financial Services Inc. cut its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 759,413 shares of the business services provider’s stock after selling 1,975 shares during the period. Copart makes up 3.5% of Baskin Financial Services Inc.’s holdings, making the stock its 14th biggest holding. Baskin Financial Services Inc.’s holdings in Copart were worth $43,583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in CPRT. Jensen Investment Management Inc. boosted its holdings in Copart by 2,466.0% in the third quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock valued at $185,299,000 after purchasing an additional 3,398,423 shares during the period. Assenagon Asset Management S.A. raised its position in Copart by 462.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock valued at $192,240,000 after purchasing an additional 3,016,795 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Copart by 335.8% in the 3rd quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock valued at $149,471,000 after buying an additional 2,084,626 shares during the period. Comgest Global Investors S.A.S. grew its position in shares of Copart by 706.6% during the third quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider’s stock worth $83,153,000 after buying an additional 1,390,146 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Copart by 1,103.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,062,931 shares of the business services provider’s stock worth $55,698,000 after buying an additional 974,585 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Stock Performance

Shares of Copart stock opened at $57.93 on Monday. The company has a market capitalization of $55.82 billion, a P/E ratio of 40.80 and a beta of 1.33. Copart, Inc. has a 1 year low of $47.92 and a 1 year high of $64.38. The company’s fifty day moving average is $59.11 and its two-hundred day moving average is $54.95.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. Copart had a return on equity of 18.96% and a net margin of 31.92%. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the business earned $0.34 earnings per share. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, equities analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Transactions at Copart

In other Copart news, Chairman A Jayson Adair sold 251,423 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the sale, the chairman now directly owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. The trade was a 1.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 quarter, insiders sold 650,213 shares of company stock worth $39,199,813. Company insiders own 9.68% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.