Redmond Asset Management LLC Sells 3,389 Shares of Copart, Inc. (NASDAQ:CPRT)

Redmond Asset Management LLC reduced its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 5.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,933 shares of the business services provider’s stock after selling 3,389 shares during the period. Copart accounts for about 1.7% of Redmond Asset Management LLC’s portfolio, making the stock its 9th largest holding. Redmond Asset Management LLC’s holdings in Copart were worth $4,031,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Cordasco Financial Network raised its position in shares of Copart by 170.7% during the 2nd quarter. Cordasco Financial Network now owns 471 shares of the business services provider’s stock valued at $35,000 after buying an additional 297 shares during the period. Icon Wealth Partners LLC purchased a new stake in shares of Copart during the 1st quarter valued at approximately $34,000. Meridian Wealth Management LLC purchased a new stake in shares of Copart during the 1st quarter valued at approximately $40,000. Quadrant Capital Group LLC raised its position in shares of Copart by 170.3% during the 1st quarter. Quadrant Capital Group LLC now owns 1,181 shares of the business services provider’s stock valued at $67,000 after buying an additional 744 shares during the period. Finally, Steward Partners Investment Advisory LLC purchased a new stake in shares of Copart during the 2nd quarter valued at approximately $101,000. Institutional investors and hedge funds own 83.78% of the company’s stock.

In other Copart news, Director Matt Blunt sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $71.00, for a total value of $3,550,000.00. Following the sale, the director now owns 50,000 shares of the company’s stock, valued at $3,550,000. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider William E. Franklin sold 41,007 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $77.37, for a total value of $3,172,711.59. Following the sale, the insider now directly owns 58,974 shares in the company, valued at approximately $4,562,818.38. The disclosure for this sale can be found here. In the last three months, insiders sold 423,458 shares of company stock worth $31,198,755. 15.99% of the stock is owned by corporate insiders.

NASDAQ CPRT traded up $0.45 on Thursday, reaching $74.76. The stock had a trading volume of 32,734 shares, compared to its average volume of 1,215,999. The company has a market capitalization of $17.03 billion, a price-to-earnings ratio of 43.16, a price-to-earnings-growth ratio of 1.50 and a beta of 0.82. The company has a quick ratio of 1.99, a current ratio of 2.07 and a debt-to-equity ratio of 0.25. Copart, Inc. has a 12-month low of $44.61 and a 12-month high of $79.74. The company’s fifty day moving average price is $76.35.

Copart (NASDAQ:CPRT) last announced its earnings results on Wednesday, May 22nd. The business services provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. The company had revenue of $553.12 million for the quarter, compared to analyst estimates of $535.62 million. Copart had a return on equity of 31.33% and a net margin of 28.12%. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.52 earnings per share. On average, sell-side analysts expect that Copart, Inc. will post 2.21 earnings per share for the current year.

Several research firms have recently commented on CPRT. Guggenheim lowered shares of Copart from a “buy” rating to a “neutral” rating and set a $67.07 price target on the stock. in a research report on Friday, May 17th. Barrington Research reaffirmed a “hold” rating on shares of Copart in a research report on Friday, May 24th. BidaskClub lowered shares of Copart from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research raised shares of Copart from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Monday, May 27th. Finally, SunTrust Banks lifted their price target on shares of Copart to $78.00 and gave the company a “buy” rating in a research report on Friday, May 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. Copart has a consensus rating of “Hold” and a consensus price target of $66.77.

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.

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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