Pinnacle Wealth Planning Services Inc. Sells 2,705 Shares of Copart, Inc. (NASDAQ:CPRT)

Pinnacle Wealth Planning Services Inc. trimmed its holdings in Copart, Inc. (NASDAQ:CPRT) by 29.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,525 shares of the business services provider’s stock after selling 2,705 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Copart were worth $374,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Principal Financial Group Inc. boosted its position in shares of Copart by 2.5% in the third quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock valued at $2,037,130,000 after acquiring an additional 941,858 shares during the period. State Street Corp raised its stake in shares of Copart by 0.4% in the third quarter. State Street Corp now owns 34,157,967 shares of the business services provider’s stock valued at $1,789,877,000 after purchasing an additional 120,939 shares in the last quarter. Edgewood Management LLC raised its stake in shares of Copart by 0.6% in the third quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider’s stock valued at $1,077,119,000 after purchasing an additional 125,220 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Copart by 23.3% in the fourth quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider’s stock valued at $1,115,664,000 after purchasing an additional 3,667,534 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Copart by 1.6% in the third quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider’s stock valued at $979,547,000 after purchasing an additional 291,580 shares in the last quarter. 85.78% of the stock is owned by institutional investors.

Insider Transactions at Copart

In other news, Director Daniel J. Englander sold 235,480 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $56.84, for a total value of $13,384,683.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Diane M. Morefield sold 30,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the completion of the sale, the director now directly owns 20,000 shares in the company, valued at approximately $1,160,200. The trade was a 60.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 315,480 shares of company stock valued at $18,007,983. 9.68% of the stock is owned by insiders.

Copart Trading Down 1.2 %

Shares of NASDAQ CPRT opened at $53.73 on Friday. The business has a fifty day simple moving average of $57.36 and a 200 day simple moving average of $55.95. The firm has a market capitalization of $51.91 billion, a price-to-earnings ratio of 36.06 and a beta of 1.30. Copart, Inc. has a one year low of $48.05 and a one year high of $64.38.

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

Analysts Set New Price Targets

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

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.