GHP Investment Advisors Inc. Reduces Stock Position in Copart, Inc. (NASDAQ:CPRT)

GHP Investment Advisors Inc. trimmed its holdings in Copart, Inc. (NASDAQ:CPRT) by 9.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,411 shares of the business services provider’s stock after selling 6,500 shares during the period. GHP Investment Advisors Inc.’s holdings in Copart were worth $3,754,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Optimum Investment Advisors grew its position in shares of Copart by 141.5% in the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 300 shares in the last quarter. Eastern Bank bought a new position in Copart in the 3rd quarter worth about $29,000. Quarry LP purchased a new position in Copart during the 3rd quarter valued at about $29,000. Ashton Thomas Securities LLC bought a new stake in shares of Copart during the third quarter valued at about $33,000. Finally, True Wealth Design LLC lifted its holdings in shares of Copart by 1,737.1% in the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock worth $34,000 after buying an additional 608 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

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

Copart Price Performance

NASDAQ:CPRT opened at $59.19 on Friday. Copart, Inc. has a 1-year low of $48.05 and a 1-year high of $64.38. The business has a 50 day moving average of $58.69 and a 200 day moving average of $55.09. The company has a market capitalization of $57.03 billion, a price-to-earnings ratio of 41.68 and a beta of 1.33.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.37. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period last year, the firm earned $0.34 earnings per share. As a group, sell-side analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Insider Buying and Selling at Copart

In related news, Director Matt Blunt sold 50,000 shares of Copart stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total value of $2,883,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at 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 stock was sold at an average price of $61.86, for a total transaction of $5,153,556.60. Following the completion of the transaction, the director now owns 7,850 shares of the company’s stock, valued at $485,601. This trade represents a 91.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 650,213 shares of company stock worth $39,199,813. 9.68% of the stock is currently owned by company insiders.

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.