Sawgrass Asset Management LLC Sells 8,384 Shares of Copart, Inc. (NASDAQ:CPRT)

Sawgrass Asset Management LLC lessened its stake in Copart, Inc. (NASDAQ:CPRT) by 5.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,411 shares of the business services provider’s stock after selling 8,384 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Copart were worth $7,829,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Kieckhefer Group LLC bought a new position in shares of Copart in the fourth quarter valued at approximately $3,962,000. Sanctuary Advisors LLC increased its position in shares of Copart by 21.2% during the third quarter. Sanctuary Advisors LLC now owns 52,767 shares of the business services provider’s stock valued at $2,765,000 after acquiring an additional 9,222 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Copart by 1.6% during the third quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider’s stock valued at $979,547,000 after acquiring an additional 291,580 shares during the last quarter. Kinsale Capital Group Inc. increased its position in shares of Copart by 17.7% during the third quarter. Kinsale Capital Group Inc. now owns 89,979 shares of the business services provider’s stock valued at $4,715,000 after acquiring an additional 13,554 shares during the last quarter. Finally, Oddo BHF Asset Management Sas purchased a new stake in shares of Copart during the third quarter valued at approximately $1,206,000. Institutional investors own 85.78% of the company’s stock.

Copart Price Performance

NASDAQ:CPRT opened at $59.02 on Thursday. The business has a fifty day simple moving average of $58.38 and a two-hundred day simple moving average of $55.32. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The company has a market capitalization of $56.87 billion, a P/E ratio of 41.56 and a beta of 1.33.

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

Insider Transactions at Copart

In related news, Director Daniel J. Englander sold 235,480 shares of Copart stock in a transaction on Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Matt Blunt sold 50,000 shares of Copart stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total value of $2,883,000.00. The disclosure for this sale can be found here. Insiders sold 650,213 shares of company stock valued at $39,199,813 over the last three months. Company insiders own 9.68% of the company’s stock.

Wall Street Analysts Forecast Growth

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