Copart, Inc. (NASDAQ:CPRT) Shares Sold by Nicholas Hoffman & Company LLC.

Nicholas Hoffman & Company LLC. trimmed its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 9.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,084 shares of the business services provider’s stock after selling 1,000 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Copart were worth $584,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Copart by 100.6% in the 3rd quarter. Vanguard Group Inc. now owns 97,512,662 shares of the business services provider’s stock valued at $4,201,821,000 after acquiring an additional 48,891,984 shares during the period. Principal Financial Group Inc. raised its position in shares of Copart by 96.8% during the 3rd quarter. Principal Financial Group Inc. now owns 39,803,057 shares of the business services provider’s stock worth $1,715,114,000 after buying an additional 19,576,719 shares in the last quarter. Norges Bank acquired a new stake in shares of Copart in the 4th quarter worth approximately $463,262,000. Wellington Management Group LLP increased its stake in shares of Copart by 84.4% during the third quarter. Wellington Management Group LLP now owns 17,929,180 shares of the business services provider’s stock valued at $772,568,000 after acquiring an additional 8,205,757 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Copart by 79.1% during the third quarter. JPMorgan Chase & Co. now owns 17,359,152 shares of the business services provider’s stock worth $748,006,000 after purchasing an additional 7,666,881 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling at Copart

In other news, Chairman A Jayson Adair sold 600,000 shares of Copart stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $57.77, for a total value of $34,662,000.00. Following the transaction, the chairman now directly owns 19,687,980 shares of the company’s stock, valued at $1,137,374,604.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Copart news, Director Thomas N. Tryforos sold 285,000 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the completion of the sale, the director now directly owns 35,000 shares in the company, valued at approximately $1,934,450. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman A Jayson Adair sold 600,000 shares of Copart stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $57.77, for a total value of $34,662,000.00. Following the transaction, the chairman now directly owns 19,687,980 shares in the company, valued at approximately $1,137,374,604.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 985,000 shares of company stock valued at $55,519,950. 10.23% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CPRT. StockNews.com cut Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. lifted their target price on Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $51.00.

Copart Price Performance

Shares of CPRT traded down $1.40 during trading hours on Tuesday, hitting $54.31. 3,759,692 shares of the company were exchanged, compared to its average volume of 4,548,346. The company has a market capitalization of $52.22 billion, a PE ratio of 39.07 and a beta of 1.22. The firm has a fifty day simple moving average of $55.00 and a 200-day simple moving average of $50.55. Copart, Inc. has a one year low of $38.83 and a one year high of $58.58.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, February 22nd. The business services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.02). The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Copart had a net margin of 33.41% and a return on equity of 21.55%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.31 earnings per share. Sell-side analysts expect that Copart, Inc. will post 1.42 EPS for the current year.

About Copart

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.