Venturi Wealth Management LLC Lowers Holdings in Copart, Inc. (NASDAQ:CPRT)

Venturi Wealth Management LLC decreased its position in Copart, Inc. (NASDAQ:CPRT) by 2.9% in the fourth quarter, Holdings Channel reports. The firm owned 9,527 shares of the business services provider’s stock after selling 289 shares during the period. Venturi Wealth Management LLC’s holdings in Copart were worth $547,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CPRT. Jensen Investment Management Inc. boosted its holdings in shares of Copart by 2,466.0% in the third quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock valued at $185,299,000 after purchasing an additional 3,398,423 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Copart by 462.8% in the third quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock valued at $192,240,000 after purchasing an additional 3,016,795 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Copart by 335.8% in the third quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock valued at $149,471,000 after purchasing an additional 2,084,626 shares during the period. Comgest Global Investors S.A.S. boosted its holdings in shares of Copart by 706.6% in the third quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider’s stock valued at $83,153,000 after purchasing an additional 1,390,146 shares during the period. Finally, PineStone Asset Management Inc. raised its stake in Copart by 192.4% in the fourth quarter. PineStone Asset Management Inc. now owns 1,585,400 shares of the business services provider’s stock worth $90,986,000 after buying an additional 1,043,200 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Stock Up 0.3 %

Shares of NASDAQ:CPRT opened at $59.74 on Thursday. The company has a market capitalization of $57.56 billion, a price-to-earnings ratio of 42.07 and a beta of 1.33. Copart, Inc. has a 52 week low of $48.05 and a 52 week high of $64.38. The firm has a 50 day moving average of $58.14 and a 200 day moving average of $55.59.

Copart (NASDAQ:CPRT) last issued 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. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.10 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. The business’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.34 earnings per share. On average, sell-side analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

Insider Transactions at Copart

In related news, 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 value of $5,153,556.60. Following the transaction, the director now directly owns 7,850 shares of the company’s stock, valued at $485,601. This represents a 91.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman A Jayson Adair sold 251,423 shares of the company’s stock in a transaction on 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 completion of the transaction, the chairman now directly owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. The trade was a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 650,213 shares of company stock valued at $39,199,813. Corporate insiders own 9.68% of the company’s stock.

Analyst Ratings Changes

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

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.