Ingalls & Snyder LLC Has $17.72 Million Position in Copart, Inc. (NASDAQ:CPRT)

Ingalls & Snyder LLC lessened its position in Copart, Inc. (NASDAQ:CPRT) by 9.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CPRT. CWM LLC increased its holdings in Copart by 12.8% in 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 in the last quarter. Wesbanco Bank Inc. acquired a new position in Copart in the 3rd quarter worth about $230,000. Creative Planning increased its holdings in Copart by 1.2% in 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 in the last quarter. Baskin Financial Services Inc. increased its holdings in Copart by 1.2% in 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 in the last quarter. Finally, Physician Wealth Advisors Inc. increased its holdings in Copart by 19.5% in 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 in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Activity

In related news, Chairman A Jayson Adair sold 251,423 shares of the firm’s stock in a transaction that occurred on 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 sale, the chairman now owns 14,436,557 shares of the company’s stock, valued at $920,907,971.03. This trade represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Diane M. Morefield sold 30,000 shares of the firm’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 value of $1,740,300.00. Following the sale, the director now directly owns 20,000 shares of the company’s stock, valued at $1,160,200. This represents a 60.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 650,213 shares of company stock valued at $39,199,813. Company insiders own 9.68% of the company’s stock.

Analyst Ratings Changes

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

Copart Trading Down 0.4 %

Shares of CPRT stock opened at $59.02 on Thursday. The stock has a market cap of $56.87 billion, a price-to-earnings ratio of 41.56 and a beta of 1.33. The stock has a 50-day moving average of $58.38 and a 200-day moving average of $55.32. Copart, Inc. has a 1-year low of $48.05 and a 1-year high of $64.38.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, meeting the consensus estimate of $0.37. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.34 earnings per share. Sell-side analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

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.