State of Alaska Department of Revenue Decreases Stake in Copart, Inc. (NASDAQ:CPRT)

State of Alaska Department of Revenue lessened its stake in Copart, Inc. (NASDAQ:CPRT) by 1.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 113,628 shares of the business services provider’s stock after selling 1,755 shares during the quarter. State of Alaska Department of Revenue’s holdings in Copart were worth $6,520,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Optimum Investment Advisors lifted its position 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 valued at $27,000 after acquiring an additional 300 shares during the period. Eastern Bank purchased a new position in Copart in the 3rd quarter valued at approximately $29,000. Quarry LP acquired a new position in Copart during the third quarter worth $29,000. Ashton Thomas Securities LLC purchased a new stake in Copart during the third quarter worth $33,000. Finally, True Wealth Design LLC increased 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 buying an additional 608 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insiders Place Their Bets

In other news, Director Thomas N. Tryforos sold 83,310 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $61.86, for a total transaction of $5,153,556.60. Following the sale, the director now owns 7,850 shares in the company, valued at $485,601. This trade represents a 91.39 % 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, Chairman A Jayson Adair sold 251,423 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total value of $16,038,273.17. Following the completion of the transaction, the chairman now owns 14,436,557 shares of the company’s stock, valued at $920,907,971.03. The trade was a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 650,213 shares of company stock valued at $39,199,813 in the last ninety days. Insiders own 9.68% of the company’s stock.

Copart Stock Performance

CPRT stock opened at $58.21 on Friday. The stock’s 50 day moving average price is $58.59 and its 200 day moving average price is $55.13. The firm has a market cap of $56.09 billion, a P/E ratio of 40.99 and a beta of 1.33. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38.

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

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. increased their price objective on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research note 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.