Redmond Asset Management LLC Sells 2,265 Shares of Copart, Inc. (NASDAQ:CPRT)

Redmond Asset Management LLC cut its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 96,324 shares of the business services provider’s stock after selling 2,265 shares during the quarter. Copart accounts for about 1.4% of Redmond Asset Management LLC’s holdings, making the stock its 16th biggest holding. Redmond Asset Management LLC’s holdings in Copart were worth $5,528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the business. Cadence Bank lifted its holdings in shares of Copart by 0.6% in the 3rd 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 increased its stake in shares of Copart by 4.3% in the fourth quarter. Everpar Advisors LLC now owns 4,811 shares of the business services provider’s stock worth $276,000 after buying an additional 199 shares during the period. Fifth Third Wealth Advisors LLC increased its stake in shares of Copart by 2.3% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 9,226 shares of the business services provider’s stock worth $529,000 after buying an additional 208 shares during the period. Covestor Ltd increased its stake in shares of Copart by 5.1% in the third quarter. Covestor Ltd now owns 4,299 shares of the business services provider’s stock worth $225,000 after buying an additional 209 shares during the period. Finally, B. Riley Wealth Advisors Inc. increased its stake in shares of Copart by 0.8% in the third quarter. B. Riley Wealth Advisors Inc. now owns 27,631 shares of the business services provider’s stock worth $1,447,000 after buying an additional 213 shares during the period. 85.78% of the stock is currently owned by institutional investors.

Copart Trading Down 2.8 %

Shares of Copart stock opened at $56.61 on Friday. The company’s fifty day simple moving average is $57.97 and its two-hundred day simple moving average is $55.65. The company has a market cap of $54.55 billion, a P/E ratio of 39.87 and a beta of 1.33. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. Analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Copart

In related news, Director Daniel J. Englander sold 235,480 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $56.84, for a total value of $13,384,683.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman A Jayson Adair sold 251,423 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the completion of the transaction, the chairman now owns 14,436,557 shares of the company’s stock, valued at approximately $920,907,971.03. The trade was a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 650,213 shares of company stock valued at $39,199,813. 9.68% of the stock is currently owned by company insiders.

About Copart

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.