Ballentine Partners LLC Boosts Holdings in Copart, Inc. (NASDAQ:CPRT)

Ballentine Partners LLC lifted its position in shares of Copart, Inc. (NASDAQ:CPRT) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,008 shares of the business services provider’s stock after acquiring an additional 402 shares during the quarter. Ballentine Partners LLC’s holdings in Copart were worth $1,607,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Optimum Investment Advisors boosted its stake in shares of Copart by 141.5% during the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after acquiring an additional 300 shares in the last quarter. Eastern Bank purchased a new stake in shares of Copart during the 3rd quarter worth about $29,000. Quarry LP purchased a new stake in shares of Copart during the 3rd quarter worth about $29,000. Ashton Thomas Securities LLC purchased a new stake in shares of Copart during the 3rd quarter worth about $33,000. Finally, True Wealth Design LLC boosted its stake in shares of Copart by 1,737.1% during the 3rd 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 in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. increased their target price 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.

Copart Trading Up 0.9 %

Shares of Copart stock opened at $57.44 on Wednesday. The firm has a market capitalization of $55.35 billion, a PE ratio of 40.45 and a beta of 1.33. Copart, Inc. has a twelve month low of $47.73 and a twelve month high of $64.38. The firm’s 50-day moving average price is $59.08 and its 200 day moving average price is $54.76.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.37. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.10 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. Copart’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period last year, the company posted $0.34 EPS. On average, sell-side analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Activity at Copart

In other Copart news, Director Diane M. Morefield sold 30,000 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 20,000 shares in the company, valued at approximately $1,160,200. This represents a 60.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman A Jayson Adair sold 251,423 shares of the stock in a transaction dated Tuesday, November 26th. The shares were 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 of the company’s stock, valued at approximately $920,907,971.03. The trade was a 1.71 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 650,213 shares of company stock valued at $39,199,813. 9.68% of the stock is owned by corporate 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.