Xponance Inc. Reduces Holdings in Copart, Inc. (NASDAQ:CPRT)

Xponance Inc. cut its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 23.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 209,056 shares of the business services provider’s stock after selling 64,660 shares during the quarter. Xponance Inc.’s holdings in Copart were worth $10,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Quarry LP purchased a new stake in Copart during the 1st quarter valued at about $29,000. Cornerstone Planning Group LLC purchased a new stake in Copart during the 2nd quarter valued at about $38,000. Benjamin F. Edwards & Company Inc. purchased a new stake in Copart during the 2nd quarter valued at about $38,000. Hollencrest Capital Management boosted its holdings in Copart by 92.1% during the 1st quarter. Hollencrest Capital Management now owns 438 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 210 shares during the period. Finally, First Capital Advisors Group LLC. purchased a new stake in Copart in the 2nd quarter worth approximately $50,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Copart

In other news, Director Matt Blunt sold 100,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $51.06, for a total value of $5,106,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Matt Blunt sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $51.06, for a total transaction of $5,106,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman A Jayson Adair sold 600,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $57.77, for a total value of $34,662,000.00. Following the transaction, the chairman now directly owns 19,687,980 shares of the company’s stock, valued at approximately $1,137,374,604.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 985,000 shares of company stock valued at $55,519,950. Corporate insiders own 10.23% of the company’s stock.

Copart Stock Up 0.6 %

Shares of NASDAQ:CPRT traded up $0.32 during trading on Friday, hitting $53.52. The stock had a trading volume of 535,407 shares, compared to its average volume of 4,569,628. Copart, Inc. has a 12 month low of $38.35 and a 12 month high of $58.58. The company has a market capitalization of $51.46 billion, a PE ratio of 38.27 and a beta of 1.22. The firm’s fifty day moving average is $54.31 and its 200 day moving average is $49.98.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.02). Copart had a return on equity of 21.55% and a net margin of 33.41%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the company posted $0.31 EPS. The firm’s revenue was up 6.6% on a year-over-year basis. Equities research analysts expect that Copart, Inc. will post 1.42 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on CPRT. JPMorgan Chase & Co. increased their price objective on Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. StockNews.com cut Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Copart presently has an average rating of “Hold” and an average price target of $51.00.

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.