Chevy Chase Trust Holdings LLC Sells 8,700 Shares of Copart, Inc. (NASDAQ:CPRT)

Chevy Chase Trust Holdings LLC trimmed its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 1.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 475,558 shares of the business services provider's stock after selling 8,700 shares during the period. Chevy Chase Trust Holdings LLC's holdings in Copart were worth $24,919,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Optimum Investment Advisors grew its stake in shares of Copart by 141.5% in the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider's stock worth $27,000 after acquiring an additional 300 shares during the last quarter. Eastern Bank purchased a new stake in shares of Copart in the third quarter worth $29,000. Crewe Advisors LLC grew its stake in shares of Copart by 98.6% in the second quarter. Crewe Advisors LLC now owns 564 shares of the business services provider's stock worth $31,000 after acquiring an additional 280 shares during the last quarter. Meeder Asset Management Inc. grew its stake in shares of Copart by 283.3% in the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider's stock worth $31,000 after acquiring an additional 425 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Copart in the third quarter worth $33,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price target on Copart from $55.00 to $60.00 and gave the company a "neutral" rating in a report on Tuesday, November 19th. Robert W. Baird lowered their price target on Copart from $58.00 to $56.00 and set an "outperform" rating on the stock in a report on Thursday, September 5th.

Insider Buying and Selling

In other news, Chairman A Jayson Adair sold 251,423 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total value of $16,038,273.17. Following the completion of the sale, the chairman now directly owns 14,436,557 shares of the company's stock, valued at $920,907,971.03. This trade represents a 1.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 9.68% of the stock is currently owned by company insiders.

Copart Trading Up 1.2 %

CPRT stock traded up $0.73 during trading on Wednesday, reaching $62.97. The stock had a trading volume of 3,483,736 shares, compared to its average volume of 4,466,710. Copart, Inc. has a 52 week low of $46.21 and a 52 week high of $64.38. The stock's 50 day moving average is $55.46 and its two-hundred day moving average is $53.59. The firm has a market cap of $60.67 billion, a PE ratio of 43.83 and a beta of 1.31.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, hitting analysts' consensus estimates of $0.37. The business had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.10 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. The business's quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.34 earnings per share. On average, research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

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.