Rhumbline Advisers Decreases Stock Position in Copart, Inc. (NASDAQ:CPRT)

Rhumbline Advisers cut its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,608,407 shares of the business services provider's stock after selling 15,596 shares during the quarter. Rhumbline Advisers owned 0.17% of Copart worth $92,306,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Optimum Investment Advisors boosted its position in 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 purchasing an additional 300 shares during the last quarter. Eastern Bank purchased a new position in shares of Copart in the third quarter worth approximately $29,000. Quarry LP bought a new stake in Copart during the third quarter valued at approximately $29,000. Ashton Thomas Securities LLC purchased a new stake in Copart during the third quarter valued at approximately $33,000. Finally, True Wealth Design LLC raised its position in 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 period. Institutional investors own 85.78% of the company's stock.

Copart Trading Up 0.3 %

Copart stock traded up $0.15 during midday trading on Wednesday, hitting $59.74. The stock had a trading volume of 3,636,256 shares, compared to its average volume of 3,311,239. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38. The company has a market capitalization of $57.56 billion, a PE ratio of 42.07 and a beta of 1.33. The firm's fifty day moving average is $58.20 and its two-hundred day moving average is $55.56.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, meeting the consensus estimate of $0.37. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.10 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. The company's revenue was up 12.4% on a year-over-year basis. During the same period last year, the firm earned $0.34 EPS. As a group, equities research analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Transactions at Copart

In other news, 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 completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman A Jayson Adair sold 251,423 shares of the business's stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the completion of the sale, the chairman now owns 14,436,557 shares in the company, valued at $920,907,971.03. This represents a 1.71 % decrease in their position. 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 over the last 90 days. Company insiders own 9.68% of the company's stock.

Analyst Ratings Changes

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

About Copart

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.