Ingalls & Snyder LLC Sells 33,355 Shares of Copart, Inc. (NASDAQ:CPRT)

Ingalls & Snyder LLC reduced its position in shares of Copart, Inc. (NASDAQ:CPRT) by 9.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 308,722 shares of the business services provider’s stock after selling 33,355 shares during the period. Ingalls & Snyder LLC’s holdings in Copart were worth $17,718,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CPRT. CWM LLC lifted its holdings in Copart by 12.8% during the 3rd quarter. CWM LLC now owns 34,111 shares of the business services provider’s stock worth $1,787,000 after purchasing an additional 3,869 shares during the last quarter. Wesbanco Bank Inc. acquired a new stake in Copart during the 3rd quarter worth approximately $230,000. Creative Planning lifted its holdings in Copart by 1.2% during the 3rd quarter. Creative Planning now owns 141,602 shares of the business services provider’s stock worth $7,420,000 after purchasing an additional 1,646 shares during the last quarter. Baskin Financial Services Inc. lifted its holdings in Copart by 1.2% during the 3rd quarter. Baskin Financial Services Inc. now owns 761,388 shares of the business services provider’s stock worth $39,897,000 after purchasing an additional 9,056 shares during the last quarter. Finally, Physician Wealth Advisors Inc. lifted its holdings in Copart by 19.5% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 4,485 shares of the business services provider’s stock worth $246,000 after purchasing an additional 733 shares during the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Stock Performance

NASDAQ:CPRT opened at $59.02 on Thursday. The stock has a fifty day moving average price of $58.38 and a 200-day moving average price of $55.32. The company has a market cap of $56.87 billion, a price-to-earnings ratio of 41.56 and a beta of 1.33. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38.

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

Insider Activity

In related news, 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 transaction of $13,384,683.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman A Jayson Adair sold 251,423 shares of the company’s stock in a transaction on 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 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 disclosure for this sale can be found here. In the last three months, insiders sold 650,213 shares of company stock worth $39,199,813. 9.68% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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