Proficio Capital Partners LLC Takes Position in Copart, Inc. (NASDAQ:CPRT)

Proficio Capital Partners LLC purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT) during the 4th quarter, Holdings Channel.com reports. The fund purchased 234,094 shares of the business services provider’s stock, valued at approximately $13,435,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPRT. Cadence Bank increased its position in shares of Copart by 0.6% during the third quarter. Cadence Bank now owns 31,549 shares of the business services provider’s stock worth $1,653,000 after acquiring an additional 178 shares during the last quarter. Everpar Advisors LLC grew its stake in Copart by 4.3% during the 4th 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 in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Copart by 0.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 75,170 shares of the business services provider’s stock worth $4,314,000 after purchasing an additional 200 shares during the last quarter. Simmons Bank raised its position in shares of Copart by 4.4% in the 4th quarter. Simmons Bank now owns 4,728 shares of the business services provider’s stock valued at $271,000 after purchasing an additional 200 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its stake in shares of Copart by 2.3% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 9,226 shares of the business services provider’s stock valued at $529,000 after buying an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling at Copart

In related news, Director Diane M. Morefield sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at $1,160,200. The trade was a 60.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 value of $13,384,683.20. The disclosure for this sale can be found here. Insiders sold a total of 398,790 shares of company stock worth $23,161,540 over the last 90 days. Insiders own 9.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. upped their price target 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 Stock Down 0.8 %

Shares of Copart stock opened at $54.80 on Friday. The business has a 50-day moving average price of $57.62 and a 200 day moving average price of $55.89. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38. The firm has a market cap of $52.80 billion, a P/E ratio of 36.78 and a beta of 1.33.

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 analysts’ consensus estimates of $0.38 by $0.02. Copart had a return on equity of 19.31% and a net margin of 32.27%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. As a group, equities research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

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.