Moloney Securities Asset Management LLC lowered its holdings in Copart, Inc. (NASDAQ:CPRT – Free Report) by 8.3% in the 4th quarter, HoldingsChannel reports. The firm owned 3,844 shares of the business services provider’s stock after selling 350 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in Copart were worth $221,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of CPRT. Jensen Investment Management Inc. raised its stake in Copart by 2,466.0% in 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 buying an additional 3,398,423 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Copart by 462.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock valued at $192,240,000 after acquiring an additional 3,016,795 shares during the period. Franklin Resources Inc. raised its position in shares of Copart by 335.8% in the 3rd quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock worth $149,471,000 after acquiring an additional 2,084,626 shares in the last quarter. Comgest Global Investors S.A.S. lifted its stake in shares of Copart by 706.6% during the 3rd 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 purchasing an additional 1,390,146 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in Copart by 1,103.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,062,931 shares of the business services provider’s stock valued at $55,698,000 after purchasing an additional 974,585 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.
Copart Trading Up 1.0 %
NASDAQ CPRT opened at $59.23 on Wednesday. The firm’s fifty day simple moving average is $58.46 and its two-hundred day simple moving average is $55.29. The firm has a market capitalization of $57.07 billion, a P/E ratio of 41.71 and a beta of 1.33. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38.
Analysts Set New Price Targets
Separately, JPMorgan Chase & Co. boosted their target price on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th.
Check Out Our Latest Report on Copart
Insider Activity
In other news, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction 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 sale, the chairman now directly owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thomas N. Tryforos sold 83,310 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $61.86, for a total value of $5,153,556.60. Following the completion of the transaction, the director now directly owns 7,850 shares in the company, valued at approximately $485,601. The trade was a 91.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 650,213 shares of company stock worth $39,199,813 over the last 90 days. 9.68% of the stock is currently owned by corporate 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.
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