Copart, Inc. (NASDAQ:CPRT) Shares Purchased by Suncoast Equity Management

Suncoast Equity Management boosted its stake in Copart, Inc. (NASDAQ:CPRT) by 8.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,220 shares of the business services provider’s stock after buying an additional 2,230 shares during the period. Suncoast Equity Management’s holdings in Copart were worth $1,734,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Boston Financial Mangement LLC increased its position in shares of Copart by 0.6% during the fourth quarter. Boston Financial Mangement LLC now owns 2,001,097 shares of the business services provider’s stock valued at $114,843,000 after acquiring an additional 11,106 shares during the last quarter. Handelsbanken Fonder AB boosted its position in shares of Copart by 21.3% during the 4th quarter. Handelsbanken Fonder AB now owns 557,126 shares of the business services provider’s stock worth $31,973,000 after purchasing an additional 97,875 shares during the period. Ieq Capital LLC increased its holdings in Copart by 12.8% in the 4th quarter. Ieq Capital LLC now owns 113,573 shares of the business services provider’s stock valued at $6,518,000 after purchasing an additional 12,928 shares during the last quarter. Freedom Day Solutions LLC increased its holdings in Copart by 6.7% in the 4th quarter. Freedom Day Solutions LLC now owns 60,333 shares of the business services provider’s stock valued at $3,463,000 after purchasing an additional 3,775 shares during the last quarter. Finally, TimesSquare Capital Management LLC raised its position in Copart by 44.7% in the fourth quarter. TimesSquare Capital Management LLC now owns 632,911 shares of the business services provider’s stock valued at $36,323,000 after purchasing an additional 195,650 shares during the period. Institutional investors and hedge funds own 85.78% 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 report on Tuesday, November 19th.

Insiders Place Their Bets

In other news, Chairman A Jayson Adair sold 251,423 shares of the stock in a transaction dated 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 transaction, the chairman now 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daniel J. Englander sold 235,480 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $56.84, for a total value of $13,384,683.20. The disclosure for this sale can be found here. Insiders sold a total of 650,213 shares of company stock worth $39,199,813 over the last 90 days. Corporate insiders own 9.68% of the company’s stock.

Copart Price Performance

Shares of NASDAQ:CPRT opened at $58.22 on Friday. The firm has a market capitalization of $56.10 billion, a PE ratio of 41.00 and a beta of 1.33. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The firm’s 50-day moving average is $58.07 and its two-hundred day moving average is $55.61.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. Copart had a net margin of 31.92% and a return on equity of 18.96%. Analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal 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.