Lincoln Capital LLC Sells 1,148 Shares of Copart, Inc. (NASDAQ:CPRT)

Lincoln Capital LLC reduced its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 2.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 48,474 shares of the business services provider’s stock after selling 1,148 shares during the period. Lincoln Capital LLC’s holdings in Copart were worth $2,375,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP bought a new position in Copart during the first quarter valued at $29,000. Cornerstone Planning Group LLC bought a new position in Copart during the second quarter valued at $38,000. Benjamin F. Edwards & Company Inc. bought a new position in Copart during the second quarter valued at $38,000. Hollencrest Capital Management grew its holdings in Copart by 92.1% during the first quarter. Hollencrest Capital Management now owns 438 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 210 shares during the period. Finally, West Tower Group LLC bought a new position in Copart during the second quarter valued at $49,000. 79.26% of the stock is owned by institutional investors.

Copart Price Performance

CPRT traded down $0.04 on Monday, hitting $56.09. The company had a trading volume of 3,588,946 shares, compared to its average volume of 4,866,531. Copart, Inc. has a 52-week low of $34.79 and a 52-week high of $56.96. The stock has a fifty day simple moving average of $50.64 and a 200-day simple moving average of $48.00. The firm has a market capitalization of $53.93 billion, a P/E ratio of 40.35 and a beta of 1.22.

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

Insiders Place Their Bets

In other Copart news, Director Thomas N. Tryforos sold 285,000 shares of Copart stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $55.27, for a total value of $15,751,950.00. Following the completion of the sale, the director now owns 35,000 shares of the company’s stock, valued at approximately $1,934,450. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Thomas N. Tryforos sold 285,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were 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 owns 35,000 shares of the company’s stock, valued at approximately $1,934,450. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Matt Blunt sold 100,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $51.06, for a total transaction of $5,106,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 705,000 shares of company stock valued at $35,910,750. Company insiders own 10.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. StockNews.com downgraded Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. started coverage on Copart in a research report on Tuesday, February 27th. They issued a “neutral” rating and a $48.00 price objective on the stock. Finally, HSBC started coverage on Copart in a research report on Monday, December 4th. They issued a “hold” rating and a $51.00 price objective on the stock. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Copart currently has a consensus rating of “Hold” and a consensus target price of $50.00.

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.