Copart, Inc. (NASDAQ:CPRT) Shares Sold by Clarus Group Inc.

Clarus Group Inc. trimmed its position in shares of Copart, Inc. (NASDAQ:CPRT) by 18.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,942 shares of the business services provider’s stock after selling 2,977 shares during the period. Clarus Group Inc.’s holdings in Copart were worth $743,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Panoramic Capital Partners LLC acquired a new position in Copart during the 4th quarter worth $484,000. Savant Capital LLC grew its holdings in Copart by 13.5% during the 4th quarter. Savant Capital LLC now owns 8,725 shares of the business services provider’s stock worth $501,000 after acquiring an additional 1,035 shares in the last quarter. MFA Wealth Advisors LLC grew its holdings in Copart by 10.4% during the 4th quarter. MFA Wealth Advisors LLC now owns 62,347 shares of the business services provider’s stock worth $3,578,000 after acquiring an additional 5,863 shares in the last quarter. Kestra Private Wealth Services LLC grew its holdings in Copart by 8.3% during the 4th quarter. Kestra Private Wealth Services LLC now owns 14,350 shares of the business services provider’s stock worth $824,000 after acquiring an additional 1,099 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in Copart by 31.8% during the 4th quarter. Empowered Funds LLC now owns 84,445 shares of the business services provider’s stock worth $4,846,000 after acquiring an additional 20,376 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Copart

In related news, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total value of $16,038,273.17. Following the sale, the chairman now directly owns 14,436,557 shares in the company, valued at $920,907,971.03. This trade represents a 1.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Diane M. Morefield sold 30,000 shares of Copart stock in a transaction dated 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 completion of the sale, the director now owns 20,000 shares in the company, valued at approximately $1,160,200. This represents a 60.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 650,213 shares of company stock worth $39,199,813 in the last ninety days. 9.68% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

Copart Stock Performance

Copart stock opened at $58.63 on Tuesday. The firm’s 50-day moving average is $58.52 and its 200-day moving average is $55.23. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The company has a market cap of $56.49 billion, a P/E ratio of 41.29 and a beta of 1.33.

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

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.