Sovran Advisors LLC Purchases Shares of 13,757 Copart, Inc. (NASDAQ:CPRT)

Sovran Advisors LLC bought a new stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 13,757 shares of the business services provider's stock, valued at approximately $773,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CPRT. Optimum Investment Advisors grew its stake in shares of Copart by 141.5% in the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider's stock worth $27,000 after buying an additional 300 shares in the last quarter. Eastern Bank purchased a new position in Copart in the third quarter worth about $29,000. Quarry LP bought a new stake in Copart during the third quarter worth 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 lifted its stake in shares of Copart by 1,737.1% in the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider's stock valued at $34,000 after purchasing an additional 608 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Stock Down 0.7 %

NASDAQ:CPRT traded down $0.44 during mid-day trading on Friday, hitting $59.39. 2,392,531 shares of the stock traded hands, compared to its average volume of 3,039,759. The stock has a market capitalization of $57.22 billion, a price-to-earnings ratio of 41.82 and a beta of 1.33. Copart, Inc. has a 52 week low of $48.05 and a 52 week high of $64.38. The firm's 50 day moving average is $58.29 and its two-hundred day moving average is $55.43.

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

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. increased 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.

Insider Transactions at Copart

In other news, Director Daniel J. Englander sold 235,480 shares of the firm's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $56.84, for a total transaction of $13,384,683.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Diane M. Morefield sold 30,000 shares of Copart stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the sale, the director now directly owns 20,000 shares of the company's stock, valued at $1,160,200. This represents a 60.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 650,213 shares of company stock worth $39,199,813. 9.68% of the stock is currently owned by insiders.

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.