Sawgrass Asset Management LLC Boosts Stock Position in Copart, Inc. (NASDAQ:CPRT)

Sawgrass Asset Management LLC raised its stake in Copart, Inc. (NASDAQ:CPRT) by 32.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 160,712 shares of the business services provider’s stock after purchasing an additional 38,946 shares during the period. Sawgrass Asset Management LLC’s holdings in Copart were worth $7,875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CPRT. OFI Invest Asset Management purchased a new position in Copart in the third quarter valued at about $25,000. Manchester Capital Management LLC boosted its holdings in Copart by 101.0% in the third quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider’s stock worth $27,000 after acquiring an additional 314 shares in the last quarter. Bell Investment Advisors Inc boosted its holdings in Copart by 87.1% in the third quarter. Bell Investment Advisors Inc now owns 694 shares of the business services provider’s stock worth $30,000 after acquiring an additional 323 shares in the last quarter. Annapolis Financial Services LLC boosted its holdings in Copart by 100.0% in the third quarter. Annapolis Financial Services LLC now owns 720 shares of the business services provider’s stock worth $31,000 after acquiring an additional 360 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in Copart in the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling

In other Copart news, Chairman A Jayson Adair sold 600,000 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the transaction, the chairman now owns 19,687,980 shares of the company’s stock, valued at $1,137,374,604.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Copart news, Chairman A Jayson Adair sold 600,000 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the transaction, the chairman now owns 19,687,980 shares of the company’s stock, valued at $1,137,374,604.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Matt Blunt sold 100,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $51.06, for a total value of $5,106,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 985,000 shares of company stock worth $55,519,950. 10.23% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

Copart Stock Down 1.4 %

Shares of Copart stock traded down $0.77 on Wednesday, reaching $55.16. The company’s stock had a trading volume of 2,747,247 shares, compared to its average volume of 4,489,041. The company has a market capitalization of $53.04 billion, a P/E ratio of 40.24 and a beta of 1.22. Copart, Inc. has a 52-week low of $39.57 and a 52-week high of $58.58. The stock has a 50-day moving average price of $55.53 and a 200-day moving average price of $50.95.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results 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 firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the firm 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 forecast 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.