Copart, Inc. (NASDAQ:CPRT) Shares Sold by GAM Holding AG

GAM Holding AG cut its stake in Copart, Inc. (NASDAQ:CPRT) by 9.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,384 shares of the business services provider’s stock after selling 2,434 shares during the quarter. GAM Holding AG’s holdings in Copart were worth $1,399,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CPRT. Creative Planning increased its holdings in Copart by 1.2% in the third quarter. Creative Planning now owns 141,602 shares of the business services provider’s stock valued at $7,420,000 after buying an additional 1,646 shares during the last quarter. Trilogy Capital Inc. boosted its position in shares of Copart by 41.0% during the third quarter. Trilogy Capital Inc. now owns 28,469 shares of the business services provider’s stock worth $1,492,000 after buying an additional 8,273 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of Copart by 7.3% during the third quarter. Sequoia Financial Advisors LLC now owns 16,526 shares of the business services provider’s stock worth $866,000 after buying an additional 1,122 shares during the period. Eastern Bank acquired a new position in shares of Copart during the third quarter worth approximately $29,000. Finally, Segment Wealth Management LLC boosted its position in shares of Copart by 15.1% during the third quarter. Segment Wealth Management LLC now owns 40,873 shares of the business services provider’s stock worth $2,142,000 after buying an additional 5,374 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Stock Performance

NASDAQ CPRT opened at $59.59 on Wednesday. The business’s fifty day moving average is $58.20 and its two-hundred day moving average is $55.56. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The stock has a market capitalization of $57.42 billion, a P/E ratio of 41.96 and a beta of 1.33.

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

Insider Activity

In other Copart news, Chairman A Jayson Adair sold 251,423 shares of the company’s stock in a transaction dated 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were 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. Insiders have sold a total of 650,213 shares of company stock worth $39,199,813 in the last ninety days. Corporate insiders own 9.68% of the company’s stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. upped their target price on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research 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.