Copart, Inc. (NASDAQ:CPRT) Stake Trimmed by JLB & Associates Inc.

JLB & Associates Inc. cut its position in shares of Copart, Inc. (NASDAQ:CPRT) by 3.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 435,515 shares of the business services provider’s stock after selling 16,159 shares during the quarter. Copart accounts for 3.4% of JLB & Associates Inc.’s portfolio, making the stock its 7th largest position. JLB & Associates Inc.’s holdings in Copart were worth $24,994,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Cadence Bank lifted its position in shares of Copart by 0.6% in the 3rd quarter. Cadence Bank now owns 31,549 shares of the business services provider’s stock valued at $1,653,000 after acquiring an additional 178 shares in the last quarter. Everpar Advisors LLC grew its position in Copart by 4.3% during the 4th quarter. Everpar Advisors LLC now owns 4,811 shares of the business services provider’s stock worth $276,000 after purchasing an additional 199 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its stake in Copart by 2.3% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 9,226 shares of the business services provider’s stock valued at $529,000 after purchasing an additional 208 shares during the period. Covestor Ltd lifted its holdings in shares of Copart by 5.1% in the third quarter. Covestor Ltd now owns 4,299 shares of the business services provider’s stock valued at $225,000 after purchasing an additional 209 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in shares of Copart by 0.8% in the third quarter. B. Riley Wealth Advisors Inc. now owns 27,631 shares of the business services provider’s stock valued at $1,447,000 after purchasing an additional 213 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Price Performance

NASDAQ CPRT opened at $58.22 on Friday. The firm has a market capitalization of $56.10 billion, a price-to-earnings ratio of 41.00 and a beta of 1.33. The company has a 50 day simple moving average of $58.07 and a 200-day simple moving average of $55.61. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38.

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, Director Diane M. Morefield sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at approximately $1,160,200. This trade represents a 60.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 sale, the chairman now owns 14,436,557 shares of the company’s stock, valued at $920,907,971.03. This trade represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 650,213 shares of company stock worth $39,199,813. Corporate insiders own 9.68% of the company’s stock.

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.