Principal Financial Group Inc. Sells 716,827 Shares of Copart, Inc. (NASDAQ:CPRT)

Principal Financial Group Inc. decreased its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,159,690 shares of the business services provider's stock after selling 716,827 shares during the period. Copart makes up 1.2% of Principal Financial Group Inc.'s portfolio, making the stock its 9th biggest holding. Principal Financial Group Inc. owned 3.96% of Copart worth $2,189,985,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CPRT. Eastern Bank bought a new position in Copart during the third quarter valued at approximately $29,000. Quarry LP bought a new position in Copart during the third quarter valued at approximately $29,000. Ashton Thomas Securities LLC bought a new position in shares of Copart in the third quarter valued at approximately $33,000. True Wealth Design LLC grew its stake 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 worth $34,000 after acquiring an additional 608 shares during the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of Copart in the fourth quarter worth $54,000. Institutional investors own 85.78% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. lifted their price target 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 Activity

In other news, Chairman A Jayson Adair sold 251,423 shares of the business's stock in a transaction dated 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 sale, the chairman now directly owns 14,436,557 shares in the company, valued at $920,907,971.03. The trade was a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of the business's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $56.84, for a total value of $13,384,683.20. The disclosure for this sale can be found here. Insiders sold a total of 650,213 shares of company stock valued at $39,199,813 in the last ninety days. 9.68% of the stock is owned by insiders.

Copart Trading Down 0.8 %

Shares of Copart stock traded down $0.46 during trading on Thursday, reaching $59.29. The company's stock had a trading volume of 463,312 shares, compared to its average volume of 3,218,617. The stock has a market capitalization of $57.12 billion, a P/E ratio of 41.75 and a beta of 1.33. Copart, Inc. has a one year low of $48.05 and a one year high of $64.38. The stock has a 50-day moving average price of $58.14 and a two-hundred day moving average price of $55.59.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. The firm 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 company's quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.34 EPS. As a group, sell-side 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.