ING Groep NV Sells 250,788 Shares of Copart, Inc. (NASDAQ:CPRT)

ING Groep NV decreased its stake in Copart, Inc. (NASDAQ:CPRT) by 68.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 116,508 shares of the business services provider’s stock after selling 250,788 shares during the period. ING Groep NV’s holdings in Copart were worth $6,686,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Kieckhefer Group LLC bought a new stake in Copart in the fourth quarter worth about $3,962,000. Sanctuary Advisors LLC increased its stake in shares of Copart by 21.2% in the third quarter. Sanctuary Advisors LLC now owns 52,767 shares of the business services provider’s stock worth $2,765,000 after purchasing an additional 9,222 shares in the last quarter. Geode Capital Management LLC increased 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 worth $979,547,000 after purchasing an additional 291,580 shares in the last quarter. Kinsale Capital Group Inc. increased its stake in shares of Copart by 17.7% in the third quarter. Kinsale Capital Group Inc. now owns 89,979 shares of the business services provider’s stock worth $4,715,000 after purchasing an additional 13,554 shares in the last quarter. Finally, Oddo BHF Asset Management Sas purchased a new position in shares of Copart in the third quarter worth about $1,206,000. Institutional investors own 85.78% of the company’s stock.

Insider Activity at Copart

In other Copart news, Director Daniel J. Englander sold 235,480 shares of Copart stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $56.84, for a total transaction of $13,384,683.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the chairman now owns 14,436,557 shares of the company’s stock, 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 90 days, insiders sold 650,213 shares of company stock valued at $39,199,813. Corporate insiders own 9.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. lifted their target price 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.

Copart Stock Down 2.8 %

CPRT opened at $56.61 on Friday. The firm has a 50-day moving average price of $57.97 and a 200-day moving average price of $55.65. The company has a market capitalization of $54.55 billion, a price-to-earnings ratio of 39.87 and a beta of 1.33. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.38 by $0.02. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. On average, sell-side analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

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.