Ingalls & Snyder LLC Decreases Position in Copart, Inc. (NASDAQ:CPRT)

Ingalls & Snyder LLC reduced its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 9.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 308,722 shares of the business services provider's stock after selling 33,355 shares during the quarter. Ingalls & Snyder LLC's holdings in Copart were worth $17,718,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Kieckhefer Group LLC purchased a new stake in Copart during the 4th quarter valued at about $3,962,000. Sanctuary Advisors LLC raised its position in shares of Copart by 21.2% during the third quarter. Sanctuary Advisors LLC now owns 52,767 shares of the business services provider's stock valued at $2,765,000 after buying an additional 9,222 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Copart by 1.6% in the third quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider's stock valued at $979,547,000 after purchasing an additional 291,580 shares in the last quarter. Kinsale Capital Group Inc. grew its holdings in shares of Copart by 17.7% in the third quarter. Kinsale Capital Group Inc. now owns 89,979 shares of the business services provider's stock valued at $4,715,000 after purchasing an additional 13,554 shares in the last quarter. Finally, Oddo BHF Asset Management Sas purchased a new position in Copart during the third quarter worth $1,206,000. 85.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Copart

In other news, Director Thomas N. Tryforos sold 83,310 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $61.86, for a total value of $5,153,556.60. Following the completion of the sale, the director now owns 7,850 shares in the company, valued at approximately $485,601. This trade represents a 91.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Diane M. Morefield sold 30,000 shares of the firm's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $58.01, for a total value of $1,740,300.00. Following the sale, the director now owns 20,000 shares of the company's stock, valued at approximately $1,160,200. This trade represents a 60.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 650,213 shares of company stock worth $39,199,813. 9.68% of the stock is owned by insiders.

Copart Stock Performance

Copart stock traded down $0.44 during trading on Friday, reaching $59.39. The company had a trading volume of 2,392,531 shares, compared to its average volume of 3,039,759. The firm's 50-day simple moving average is $58.29 and its 200 day simple moving average is $55.43. The firm has a market capitalization of $57.22 billion, a PE ratio of 41.82 and a beta of 1.33. 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 released its earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, meeting the consensus estimate of $0.37. Copart had a return on equity of 18.96% and a net margin of 31.92%. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the previous year, the company posted $0.34 EPS. Copart's revenue was up 12.4% compared to the same quarter last year. Analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

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.