Copart, Inc. (NASDAQ:CPRT) Shares Sold by Osborne Partners Capital Management LLC

Osborne Partners Capital Management LLC cut its position in shares of Copart, Inc. (NASDAQ:CPRT) by 14.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,085 shares of the business services provider’s stock after selling 835 shares during the quarter. Osborne Partners Capital Management LLC’s holdings in Copart were worth $292,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Optimum Investment Advisors raised 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 buying an additional 300 shares during the last quarter. Eastern Bank purchased a new position in Copart during the 3rd quarter valued at about $29,000. Quarry LP acquired a new position in Copart during the third quarter worth about $29,000. Ashton Thomas Securities LLC purchased a new stake in shares of Copart in the third quarter valued at about $33,000. Finally, True Wealth Design LLC grew its position 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 valued at $34,000 after purchasing an additional 608 shares during the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Stock Down 1.1 %

CPRT opened at $57.93 on Monday. The firm has a market cap of $55.82 billion, a P/E ratio of 40.80 and a beta of 1.33. The business’s fifty day simple moving average is $59.11 and its 200 day simple moving average is $54.95. Copart, Inc. has a 52 week low of $47.92 and a 52 week high of $64.38.

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

Insider Buying and Selling

In other news, Chairman A Jayson Adair sold 251,423 shares of the firm’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 sale, the chairman now owns 14,436,557 shares in the company, valued at $920,907,971.03. This trade represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel J. Englander sold 235,480 shares of the company’s stock in a transaction on 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. Over the last 90 days, insiders have sold 650,213 shares of company stock worth $39,199,813. 9.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. lifted their price objective on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th.

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.