First Foundation Advisors Acquires 9,349 Shares of Copart, Inc. (NASDAQ:CPRT)

First Foundation Advisors grew its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 16.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,219 shares of the business services provider's stock after acquiring an additional 9,349 shares during the quarter. First Foundation Advisors' holdings in Copart were worth $3,800,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CPRT. Principal Financial Group Inc. lifted its stake in Copart by 2.5% during the third quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider's stock worth $2,037,130,000 after purchasing an additional 941,858 shares during the period. Janus Henderson Group PLC raised its stake in Copart by 7.7% during the third quarter. Janus Henderson Group PLC now owns 96,566 shares of the business services provider's stock worth $5,060,000 after acquiring an additional 6,900 shares in the last quarter. Quarry LP acquired a new position in Copart during the third quarter worth $29,000. MML Investors Services LLC lifted its holdings in shares of Copart by 3.2% during the third quarter. MML Investors Services LLC now owns 153,037 shares of the business services provider's stock valued at $8,019,000 after acquiring an additional 4,703 shares during the period. Finally, Continuum Advisory LLC boosted its stake in shares of Copart by 88.6% in the 3rd quarter. Continuum Advisory LLC now owns 962 shares of the business services provider's stock valued at $55,000 after purchasing an additional 452 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors.

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Insider Activity

In related news, Director James E. Meeks sold 100,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total value of $5,400,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Steven D. Cohan sold 94,997 shares of the company's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $60.01, for a total transaction of $5,700,769.97. The disclosure for this sale can be found here. In the last quarter, insiders have sold 200,000 shares of company stock valued at $11,401,000. 9.68% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, Argus lowered shares of Copart from a "buy" rating to a "hold" rating in a research report on Friday, March 14th.

Copart Trading Up 0.8 %

NASDAQ CPRT traded up $0.49 on Tuesday, hitting $60.32. 2,021,897 shares of the company were exchanged, compared to its average volume of 4,394,057. Copart, Inc. has a 1-year low of $48.05 and a 1-year high of $64.38. The firm has a 50 day moving average of $56.14 and a two-hundred day moving average of $56.72. The company has a market cap of $58.27 billion, a P/E ratio of 40.48 and a beta of 1.22.

Copart (NASDAQ:CPRT - Get Free Report) last announced its earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.02. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. Research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal 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.