GHP Investment Advisors Inc. Sells 6,500 Shares of Copart, Inc. (NASDAQ:CPRT)

GHP Investment Advisors Inc. reduced its position in Copart, Inc. (NASDAQ:CPRT) by 9.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,411 shares of the business services provider’s stock after selling 6,500 shares during the period. GHP Investment Advisors Inc.’s holdings in Copart were worth $3,754,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Optimum Investment Advisors grew its holdings in shares of Copart by 141.5% during the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after buying an additional 300 shares during the last quarter. Eastern Bank bought a new position in Copart in the 3rd quarter valued at about $29,000. Quarry LP acquired a new position in Copart during the 3rd quarter valued at about $29,000. Ashton Thomas Securities LLC bought a new stake in Copart during the 3rd quarter worth approximately $33,000. Finally, True Wealth Design LLC raised its stake 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 worth $34,000 after purchasing an additional 608 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Price Performance

CPRT opened at $59.19 on Friday. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38. The firm has a market capitalization of $57.03 billion, a P/E ratio of 41.68 and a beta of 1.33. The company’s 50-day moving average is $58.69 and its 200 day moving average is $55.09.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. The firm 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 company’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.34 EPS. On average, equities research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Copart news, Director Thomas N. Tryforos sold 83,310 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $61.86, for a total value of $5,153,556.60. Following the transaction, the director now directly owns 7,850 shares in the company, valued at $485,601. The trade was a 91.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction that occurred 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 directly owns 14,436,557 shares in the company, valued at $920,907,971.03. This trade represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 650,213 shares of company stock valued at $39,199,813. Insiders own 9.68% of the company’s stock.

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.