Copart, Inc. (NASDAQ:CPRT) Shares Sold by Spire Wealth Management

Spire Wealth Management decreased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 0.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 117,859 shares of the business services provider’s stock after selling 470 shares during the period. Spire Wealth Management’s holdings in Copart were worth $6,764,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. SYM FINANCIAL Corp acquired a new position in Copart during the 4th quarter worth about $998,000. DAVENPORT & Co LLC lifted its stake in Copart by 2.2% during the 4th quarter. DAVENPORT & Co LLC now owns 22,363 shares of the business services provider’s stock worth $1,283,000 after acquiring an additional 483 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in Copart by 34.1% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 552,846 shares of the business services provider’s stock worth $31,728,000 after acquiring an additional 140,675 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Copart by 28.5% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 15,681 shares of the business services provider’s stock worth $900,000 after acquiring an additional 3,475 shares in the last quarter. Finally, Chicago Partners Investment Group LLC lifted its stake in Copart by 5.6% during the 4th quarter. Chicago Partners Investment Group LLC now owns 6,568 shares of the business services provider’s stock worth $373,000 after acquiring an additional 348 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analysts Set New Price Targets

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

Copart Price Performance

CPRT stock opened at $57.93 on Friday. The firm has a market capitalization of $55.82 billion, a P/E ratio of 40.80 and a beta of 1.33. The business’s 50-day moving average is $59.11 and its two-hundred day moving average is $54.93. Copart, Inc. has a 1 year low of $47.92 and a 1 year high of $64.38.

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

Insider Buying and Selling at Copart

In other news, Director Daniel J. Englander sold 235,480 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $56.84, for a total value of $13,384,683.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas N. Tryforos sold 83,310 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $61.86, for a total value of $5,153,556.60. Following the completion of the transaction, the director now owns 7,850 shares in the company, valued at approximately $485,601. The trade was a 91.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 650,213 shares of company stock valued at $39,199,813 in the last quarter. Corporate insiders own 9.68% of the company’s stock.

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.