Rhumbline Advisers Sells 15,596 Shares of Copart, Inc. (NASDAQ:CPRT)

Rhumbline Advisers lowered its position in shares of Copart, Inc. (NASDAQ:CPRT) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,608,407 shares of the business services provider’s stock after selling 15,596 shares during the period. Rhumbline Advisers owned about 0.17% of Copart worth $92,306,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CPRT. Center for Financial Planning Inc. purchased a new stake in shares of Copart during the fourth quarter worth about $78,000. ABC Arbitrage SA bought a new position in Copart during the 4th quarter valued at approximately $1,149,000. V Square Quantitative Management LLC lifted its holdings in Copart by 6.0% in the 4th quarter. V Square Quantitative Management LLC now owns 14,712 shares of the business services provider’s stock worth $844,000 after buying an additional 832 shares during the period. Sunburst Financial Group LLC bought a new stake in shares of Copart in the 4th quarter worth approximately $204,000. Finally, Buckhead Capital Management LLC increased its stake in shares of Copart by 2.3% during the fourth quarter. Buckhead Capital Management LLC now owns 14,299 shares of the business services provider’s stock valued at $821,000 after buying an additional 318 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Price Performance

CPRT stock opened at $59.39 on Friday. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The firm has a 50-day moving average of $58.29 and a 200 day moving average of $55.43. The company has a market cap of $57.22 billion, a P/E ratio of 41.82 and a beta of 1.33.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.10 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. The business’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.34 EPS. On average, equities research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Daniel J. Englander sold 235,480 shares of Copart stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman A Jayson Adair sold 251,423 shares of the company’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 value of $16,038,273.17. Following the completion of the sale, the chairman now owns 14,436,557 shares in the company, valued at $920,907,971.03. The trade was a 1.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 650,213 shares of company stock worth $39,199,813. Corporate insiders own 9.68% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. raised their price target on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note 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.