Harfst & Associates Inc. Decreases Stock Position in Copart, Inc. (NASDAQ:CPRT)

Harfst & Associates Inc. cut its position in Copart, Inc. (NASDAQ:CPRT) by 27.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,350 shares of the business services provider’s stock after selling 1,668 shares during the quarter. Harfst & Associates Inc.’s holdings in Copart were worth $250,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP purchased a new position in shares of Copart in the third quarter valued at $29,000. Ashton Thomas Securities LLC acquired a new stake in Copart in the third quarter valued at $33,000. True Wealth Design LLC raised its holdings in Copart by 1,737.1% in the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 608 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new stake in Copart in the fourth quarter valued at $54,000. Finally, Continuum Advisory LLC raised its holdings in Copart by 88.6% in the third quarter. Continuum Advisory LLC now owns 962 shares of the business services provider’s stock valued at $55,000 after acquiring an additional 452 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Price Performance

CPRT opened at $56.27 on Thursday. The stock has a market capitalization of $54.22 billion, a PE ratio of 37.77 and a beta of 1.33. The firm’s fifty day moving average price is $57.75 and its 200 day moving average price is $55.82. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. On average, equities research analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Copart news, Director Daniel J. Englander sold 235,480 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $56.84, for a total transaction of $13,384,683.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Thomas N. Tryforos sold 83,310 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $61.86, for a total transaction of $5,153,556.60. Following the sale, the director now directly owns 7,850 shares in the company, valued at $485,601. This trade represents a 91.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 398,790 shares of company stock valued at $23,161,540. Company insiders own 9.68% of the company’s stock.

Analysts Set New Price Targets

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

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.