Copart, Inc. (NASDAQ:CPRT) Shares Sold by Osborne Partners Capital Management LLC

Osborne Partners Capital Management LLC lessened its position in shares of Copart, Inc. (NASDAQ:CPRT) by 14.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,085 shares of the business services provider’s stock after selling 835 shares during the quarter. Osborne Partners Capital Management LLC’s holdings in Copart were worth $292,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. increased its position in Copart by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock worth $2,037,130,000 after purchasing an additional 941,858 shares in the last quarter. State Street Corp grew its stake in Copart by 0.4% during the third quarter. State Street Corp now owns 34,157,967 shares of the business services provider’s stock worth $1,789,877,000 after buying an additional 120,939 shares during the period. Edgewood Management LLC increased its position 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 worth $1,077,119,000 after acquiring an additional 125,220 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Copart by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider’s stock valued at $979,547,000 after acquiring an additional 291,580 shares during the period. Finally, Barclays PLC lifted its holdings in shares of Copart by 0.4% during the 3rd quarter. Barclays PLC now owns 6,042,734 shares of the business services provider’s stock valued at $316,639,000 after acquiring an additional 21,710 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Daniel J. Englander sold 235,480 shares of the company’s stock in a transaction on 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 legal filing with the SEC, which can be accessed through this link. Also, Chairman A Jayson Adair sold 251,423 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the transaction, the chairman now directly owns 14,436,557 shares of the company’s stock, valued at approximately $920,907,971.03. This represents 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 have sold 650,213 shares of company stock worth $39,199,813. 9.68% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

Copart Stock Down 1.1 %

NASDAQ CPRT opened at $57.93 on Monday. Copart, Inc. has a fifty-two week low of $47.92 and a fifty-two week high of $64.38. The business has a 50 day moving average price of $59.11 and a two-hundred day moving average price of $54.95. The stock has a market cap of $55.82 billion, a PE ratio of 40.80 and a beta of 1.33.

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