Forte Capital LLC ADV Purchases Shares of 4,240 Copart, Inc. (NASDAQ:CPRT)

Forte Capital LLC ADV acquired a new position in Copart, Inc. (NASDAQ:CPRT) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,240 shares of the business services provider’s stock, valued at approximately $208,000.

A number of other large investors also recently modified their holdings of CPRT. Commonwealth Equity Services LLC boosted its holdings in Copart by 122.5% during the third quarter. Commonwealth Equity Services LLC now owns 98,215 shares of the business services provider’s stock worth $4,232,000 after purchasing an additional 54,068 shares during the last quarter. SVB Wealth LLC boosted its stake in shares of Copart by 96.6% in the 3rd quarter. SVB Wealth LLC now owns 10,912 shares of the business services provider’s stock worth $470,000 after buying an additional 5,362 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Copart by 139.9% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 40,690 shares of the business services provider’s stock valued at $1,753,000 after acquiring an additional 23,726 shares in the last quarter. Pinnacle Associates Ltd. increased its position in shares of Copart by 100.9% during the third quarter. Pinnacle Associates Ltd. now owns 12,436 shares of the business services provider’s stock valued at $536,000 after acquiring an additional 6,247 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in Copart by 97.2% during the third quarter. Raymond James & Associates now owns 802,219 shares of the business services provider’s stock worth $34,568,000 after acquiring an additional 395,454 shares during the period. Institutional investors own 85.78% of the company’s stock.

Insider Activity at Copart

In related news, Chairman A Jayson Adair sold 600,000 shares of Copart stock in a transaction that occurred on Thursday, March 28th. The shares were 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 directly 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 Securities & Exchange Commission, which can be accessed through this link. In other news, Director Thomas N. Tryforos sold 285,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the sale, the director now directly owns 35,000 shares in the company, valued at $1,934,450. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 985,000 shares of company stock worth $55,519,950. 10.23% of the stock is owned by corporate insiders.

Copart Price Performance

Shares of CPRT traded up $0.80 during mid-day trading on Friday, hitting $55.20. The stock had a trading volume of 5,285,026 shares, compared to its average volume of 3,813,627. Copart, Inc. has a 52 week low of $39.06 and a 52 week high of $58.58. The business has a fifty day moving average price of $55.40 and a 200-day moving average price of $50.75. The firm has a market cap of $53.07 billion, a P/E ratio of 39.71 and a beta of 1.22.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CPRT. StockNews.com lowered Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. raised their price objective on shares of Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $51.00.

Copart 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.