Clearstead Trust LLC Reduces Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Clearstead Trust LLC reduced its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 26.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,844 shares of the business services provider’s stock after selling 1,356 shares during the quarter. Clearstead Trust LLC’s holdings in Copart were worth $221,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in shares of Copart by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock valued at $2,037,130,000 after purchasing an additional 941,858 shares in the last quarter. State Street Corp boosted its position in Copart by 0.4% during the 3rd quarter. State Street Corp now owns 34,157,967 shares of the business services provider’s stock valued at $1,789,877,000 after acquiring an additional 120,939 shares in the last quarter. Edgewood Management LLC raised its position in shares of Copart by 0.6% in the 3rd quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider’s stock worth $1,077,119,000 after acquiring an additional 125,220 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Copart by 23.3% in the 4th quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider’s stock valued at $1,115,664,000 after purchasing an additional 3,667,534 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Copart by 1.6% during the third quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider’s stock valued at $979,547,000 after purchasing an additional 291,580 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CPRT shares. Argus downgraded Copart from a “buy” rating to a “hold” rating in a report on Friday. JPMorgan Chase & Co. lifted 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 news, 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Diane M. Morefield sold 30,000 shares of Copart stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $58.01, for a total value of $1,740,300.00. Following the completion of the sale, the director now owns 20,000 shares of the company’s stock, valued at $1,160,200. The trade was a 60.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 315,480 shares of company stock valued at $18,007,983. Insiders own 9.68% of the company’s stock.

Copart Trading Up 0.7 %

Shares of NASDAQ:CPRT opened at $52.65 on Friday. The stock has a fifty day simple moving average of $56.71 and a two-hundred day simple moving average of $55.96. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38. The stock has a market capitalization of $50.86 billion, a price-to-earnings ratio of 35.34 and a beta of 1.30.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.02. Copart had a return on equity of 19.31% and a net margin of 32.27%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. As a group, equities research analysts predict that Copart, Inc. will post 1.57 EPS 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.