Graypoint LLC Makes New Investment in Copart, Inc. (NASDAQ:CPRT)

Graypoint LLC bought a new position in Copart, Inc. (NASDAQ:CPRT) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 4,214 shares of the business services provider’s stock, valued at approximately $242,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cadence Bank boosted its holdings in shares of Copart by 0.6% during the third quarter. Cadence Bank now owns 31,549 shares of the business services provider’s stock worth $1,653,000 after purchasing an additional 178 shares during the period. Duncan Williams Asset Management LLC boosted its holdings in shares of Copart by 1.3% during the third quarter. Duncan Williams Asset Management LLC now owns 15,437 shares of the business services provider’s stock worth $809,000 after purchasing an additional 203 shares during the period. Covestor Ltd boosted its holdings in shares of Copart by 5.1% during the third quarter. Covestor Ltd now owns 4,299 shares of the business services provider’s stock worth $225,000 after purchasing an additional 209 shares during the period. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Copart by 0.8% during 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 purchasing an additional 213 shares during the period. Finally, Private Advisor Group LLC boosted its holdings in shares of Copart by 0.9% during the third quarter. Private Advisor Group LLC now owns 26,011 shares of the business services provider’s stock worth $1,363,000 after purchasing an additional 230 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Copart

In other news, Director Diane M. Morefield sold 30,000 shares of Copart stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $58.01, for a total value of $1,740,300.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at $1,160,200. This trade represents a 60.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction that occurred on Tuesday, November 26th. The shares were 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 directly owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. This represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 650,213 shares of company stock valued at $39,199,813. 9.68% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Copart Stock Performance

Shares of CPRT opened at $55.64 on Monday. The firm has a market cap of $53.61 billion, a PE ratio of 39.18 and a beta of 1.33. The firm’s 50 day moving average price is $58.90 and its 200 day moving average price is $54.64. Copart, Inc. has a twelve month low of $47.19 and a twelve month high of $64.38.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data 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 firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.10 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.34 earnings per share. On average, sell-side analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

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.