Copart, Inc. (NASDAQ:CPRT) Shares Sold by Bridges Investment Management Inc.

Bridges Investment Management Inc. cut its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 863,282 shares of the business services provider's stock after selling 6,568 shares during the period. Bridges Investment Management Inc. owned approximately 0.09% of Copart worth $49,544,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CPRT. Quarry LP purchased a new stake in shares of Copart in the 3rd quarter worth about $29,000. Ashton Thomas Securities LLC acquired a new position in Copart during the third quarter worth about $33,000. True Wealth Design LLC lifted its holdings in shares of Copart by 1,737.1% in the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider's stock valued at $34,000 after purchasing an additional 608 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new stake in shares of Copart in the fourth quarter valued at approximately $54,000. Finally, Continuum Advisory LLC increased its stake in shares of Copart by 88.6% during the 3rd quarter. Continuum Advisory LLC now owns 962 shares of the business services provider's stock worth $55,000 after purchasing an additional 452 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. upped their target price on Copart from $55.00 to $60.00 and gave the company a "neutral" rating in a research note on Tuesday, November 19th.

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Copart Stock Performance

CPRT stock traded up $0.15 during trading on Wednesday, hitting $54.41. The stock had a trading volume of 5,719,061 shares, compared to its average volume of 4,092,835. The stock has a market cap of $52.57 billion, a price-to-earnings ratio of 36.52 and a beta of 1.30. The company's 50 day moving average price is $57.45 and its two-hundred day moving average price is $55.96. Copart, Inc. has a 1-year low of $48.05 and a 1-year high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.02. Copart had a net margin of 32.27% and a return on equity of 19.31%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. As a group, sell-side analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Daniel J. Englander sold 235,480 shares of the company's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $56.84, for a total transaction of $13,384,683.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas N. Tryforos sold 83,310 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $61.86, for a total transaction of $5,153,556.60. Following the transaction, the director now directly owns 7,850 shares in the company, valued at approximately $485,601. This represents a 91.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 398,790 shares of company stock valued at $23,161,540 in the last quarter. 9.68% of the stock is currently owned by company insiders.

Copart Company 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.