Frank Rimerman Advisors LLC Sells 15,580 Shares of Copart, Inc. (NASDAQ:CPRT)

Frank Rimerman Advisors LLC lowered its position in shares of Copart, Inc. (NASDAQ:CPRT) by 79.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,966 shares of the business services provider’s stock after selling 15,580 shares during the period. Frank Rimerman Advisors LLC’s holdings in Copart were worth $228,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP bought a new stake in Copart during the third quarter worth about $29,000. True Wealth Design LLC lifted its stake in shares of Copart by 1,737.1% in the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 608 shares during the last quarter. Continuum Advisory LLC lifted its stake in shares of Copart by 88.6% in the 3rd quarter. Continuum Advisory LLC now owns 962 shares of the business services provider’s stock valued at $55,000 after acquiring an additional 452 shares during the last quarter. Retirement Wealth Solutions LLC bought a new stake in shares of Copart in the 4th quarter valued at about $54,000. Finally, Eastern Bank lifted its stake in shares of Copart by 115.1% in the 4th quarter. Eastern Bank now owns 1,196 shares of the business services provider’s stock valued at $69,000 after acquiring an additional 640 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling at Copart

In other Copart news, Director Diane M. Morefield sold 30,000 shares of the company’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 transaction, the director now owns 20,000 shares in the company, valued at approximately $1,160,200. This represents a 60.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of the company’s stock in a transaction that occurred 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 315,480 shares of company stock valued at $18,007,983 in the last 90 days. Insiders own 9.68% of the company’s stock.

Copart Price Performance

CPRT opened at $53.75 on Tuesday. The business has a 50 day simple moving average of $56.65 and a two-hundred day simple moving average of $56.02. The firm has a market capitalization of $51.93 billion, a price-to-earnings ratio of 36.07 and a beta of 1.30. Copart, Inc. has a one year low of $48.05 and a one year high of $64.38.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. As a group, sell-side analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CPRT. Argus lowered Copart from a “buy” rating to a “hold” rating in a research note on Friday. JPMorgan Chase & Co. boosted 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.

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.