Copart, Inc. (NASDAQ:CPRT) Shares Sold by Claar Advisors LLC

Claar Advisors LLC cut its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 56.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,354 shares of the business services provider’s stock after selling 56,646 shares during the quarter. Copart makes up approximately 0.8% of Claar Advisors LLC’s holdings, making the stock its 18th largest holding. Claar Advisors LLC’s holdings in Copart were worth $2,272,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Optimum Investment Advisors lifted its holdings in 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 buying an additional 300 shares during the last quarter. Eastern Bank acquired a new stake in shares of Copart during the third quarter worth $29,000. Crewe Advisors LLC lifted 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 buying an additional 280 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings 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 buying an additional 425 shares during the period. Finally, Versant Capital Management Inc raised its stake in Copart by 477.7% during the second quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock worth $32,000 after acquiring an additional 492 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Price Performance

Shares of CPRT stock opened at $63.39 on Monday. The business has a 50 day simple moving average of $55.06 and a 200 day simple moving average of $53.50. The firm has a market capitalization of $61.08 billion, a price-to-earnings ratio of 44.64 and a beta of 1.27. Copart, Inc. has a 12-month low of $46.21 and a 12-month high of $64.38.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. Copart’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.34 earnings per share. On average, equities analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analyst Ratings Changes

CPRT has been the topic of a number of research reports. Robert W. Baird dropped their price target on Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. JPMorgan Chase & Co. raised their target price on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th.

Insider Activity

In other Copart news, Chairman A Jayson Adair sold 251,423 shares of the company’s stock in a transaction that occurred 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 sale, the chairman now directly owns 14,436,557 shares in the company, valued at $920,907,971.03. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 9.68% of the company’s stock.

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.