Ridgewood Investments LLC Sells 201 Shares of Copart, Inc. (NASDAQ:CPRT)

Ridgewood Investments LLC cut its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 9.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,931 shares of the business services provider’s stock after selling 201 shares during the period. Ridgewood Investments LLC’s holdings in Copart were worth $111,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jensen Investment Management Inc. grew its holdings in shares of Copart by 2,466.0% during the third quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock worth $185,299,000 after purchasing an additional 3,398,423 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Copart by 462.8% during the third quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock worth $192,240,000 after purchasing an additional 3,016,795 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Copart by 335.8% during the third quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock worth $149,471,000 after purchasing an additional 2,084,626 shares in the last quarter. Comgest Global Investors S.A.S. boosted its stake in Copart by 706.6% in the third quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider’s stock worth $83,153,000 after buying an additional 1,390,146 shares in the last quarter. Finally, Kimelman & Baird LLC purchased a new stake in Copart in the second quarter worth approximately $70,307,000. 85.78% of the stock is currently owned by institutional investors.

Copart Price Performance

Shares of CPRT opened at $55.64 on Friday. The firm has a market cap of $53.61 billion, a P/E ratio of 39.18 and a beta of 1.33. The stock has a 50 day simple moving average of $58.81 and a two-hundred day simple moving average of $54.64. Copart, Inc. has a 1 year low of $47.19 and a 1 year high of $64.38.

Copart (NASDAQ:CPRT) last released its quarterly earnings data 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 analyst estimates of $1.10 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 earnings per share. On average, equities analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. upped 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.

Insider Activity

In other news, Director Daniel J. Englander sold 235,480 shares of the stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman A Jayson Adair sold 251,423 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total value of $16,038,273.17. Following the sale, the chairman now directly owns 14,436,557 shares of the company’s stock, valued at approximately $920,907,971.03. This trade represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 650,213 shares of company stock valued at $39,199,813. 9.68% of the stock is currently owned by company insiders.

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.