Nicholas Hoffman & Company LLC. Cuts Position in Copart, Inc. (NASDAQ:CPRT)

Nicholas Hoffman & Company LLC. reduced its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 9.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,084 shares of the business services provider’s stock after selling 1,000 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Copart were worth $584,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CPRT. AE Wealth Management LLC grew its position in shares of Copart by 90.9% during the 3rd quarter. AE Wealth Management LLC now owns 19,503 shares of the business services provider’s stock valued at $840,000 after acquiring an additional 9,287 shares during the period. DAVENPORT & Co LLC grew its stake in Copart by 126.2% in the 3rd quarter. DAVENPORT & Co LLC now owns 17,772 shares of the business services provider’s stock worth $766,000 after buying an additional 9,916 shares in the last quarter. Avior Wealth Management LLC increased its position in shares of Copart by 82.6% during the 3rd quarter. Avior Wealth Management LLC now owns 1,240 shares of the business services provider’s stock valued at $53,000 after purchasing an additional 561 shares during the last quarter. Private Trust Co. NA raised its holdings in shares of Copart by 432.1% during the 3rd quarter. Private Trust Co. NA now owns 3,762 shares of the business services provider’s stock valued at $162,000 after buying an additional 3,055 shares in the last quarter. Finally, Koshinski Asset Management Inc. lifted its position in Copart by 107.0% in the 3rd quarter. Koshinski Asset Management Inc. now owns 5,631 shares of the business services provider’s stock worth $243,000 after buying an additional 2,911 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Chairman A Jayson Adair sold 600,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total value of $34,662,000.00. Following the completion of the transaction, the chairman now owns 19,687,980 shares in the company, valued at approximately $1,137,374,604.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Copart news, Chairman A Jayson Adair sold 600,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the completion of the transaction, the chairman now owns 19,687,980 shares of the company’s stock, valued at $1,137,374,604.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas N. Tryforos sold 285,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total value of $15,751,950.00. Following the completion of the sale, the director now directly owns 35,000 shares in the company, valued at $1,934,450. The disclosure for this sale can be found here. In the last quarter, insiders have sold 985,000 shares of company stock worth $55,519,950. Company insiders own 10.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on CPRT shares. JPMorgan Chase & Co. increased their price target on shares of Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. StockNews.com cut Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $51.00.

Copart Stock Down 2.5 %

Shares of CPRT traded down $1.40 during mid-day trading on Tuesday, hitting $54.31. 3,759,692 shares of the company’s stock traded hands, compared to its average volume of 4,548,346. The firm has a market capitalization of $52.22 billion, a P/E ratio of 39.07 and a beta of 1.22. The business’s 50-day moving average price is $55.00 and its 200-day moving average price is $50.55. Copart, Inc. has a 1 year low of $38.83 and a 1 year high of $58.58.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.02). Copart had a return on equity of 21.55% and a net margin of 33.41%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the company posted $0.31 earnings per share. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. Sell-side analysts anticipate that Copart, Inc. will post 1.42 earnings per share 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.