Navellier & Associates Inc. Acquires 6,269 Shares of Copart, Inc. (NASDAQ:CPRT)

Navellier & Associates Inc. increased its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 30.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 26,785 shares of the business services provider’s stock after purchasing an additional 6,269 shares during the period. Navellier & Associates Inc.’s holdings in Copart were worth $1,537,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Cadence Bank raised its position in Copart by 0.6% in the third quarter. Cadence Bank now owns 31,549 shares of the business services provider’s stock valued at $1,653,000 after purchasing an additional 178 shares during the last quarter. Everpar Advisors LLC raised its position in Copart by 4.3% in the fourth quarter. Everpar Advisors LLC now owns 4,811 shares of the business services provider’s stock valued at $276,000 after purchasing an additional 199 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its position in Copart by 2.3% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 9,226 shares of the business services provider’s stock valued at $529,000 after purchasing an additional 208 shares during the last quarter. Covestor Ltd raised its position in Copart by 5.1% in the third quarter. Covestor Ltd now owns 4,299 shares of the business services provider’s stock valued at $225,000 after purchasing an additional 209 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its position in Copart by 0.8% in the third quarter. B. Riley Wealth Advisors Inc. now owns 27,631 shares of the business services provider’s stock valued at $1,447,000 after purchasing an additional 213 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Chairman A Jayson Adair sold 251,423 shares of the stock in a transaction dated 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 owns 14,436,557 shares of the company’s stock, valued at approximately $920,907,971.03. This represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Diane M. Morefield sold 30,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were 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 directly owns 20,000 shares of the company’s stock, valued at approximately $1,160,200. The trade was a 60.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 650,213 shares of company stock valued at $39,199,813. Company insiders own 9.68% of the company’s stock.

Wall Street Analyst Weigh In

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

Copart Trading Down 2.8 %

Shares of CPRT stock opened at $56.61 on Friday. The stock has a market cap of $54.55 billion, a price-to-earnings ratio of 38.00 and a beta of 1.33. The stock has a 50-day moving average of $57.97 and a 200-day moving average of $55.69. Copart, Inc. has a 1-year low of $48.05 and a 1-year high of $64.38.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.02. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. Sell-side analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Copart 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.