Hartford Investment Management Co. Sells 286 Shares of Copart, Inc. (NASDAQ:CPRT)

Hartford Investment Management Co. trimmed its position in Copart, Inc. (NASDAQ:CPRT) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 58,932 shares of the business services provider’s stock after selling 286 shares during the quarter. Hartford Investment Management Co.’s holdings in Copart were worth $2,888,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in shares of Copart in the third quarter valued at approximately $25,000. Manchester Capital Management LLC lifted its holdings in Copart by 101.0% during the 3rd quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 314 shares during the last quarter. Quarry LP bought a new position in Copart during the first quarter worth $29,000. Bell Investment Advisors Inc increased its holdings in shares of Copart by 87.1% in the third quarter. Bell Investment Advisors Inc now owns 694 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 323 shares during the last quarter. Finally, Annapolis Financial Services LLC increased its holdings in shares of Copart by 100.0% in the third quarter. Annapolis Financial Services LLC now owns 720 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 360 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CPRT has been the subject of several research analyst reports. StockNews.com downgraded shares of Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. JPMorgan Chase & Co. started coverage on Copart in a report on Tuesday, February 27th. They set a “neutral” rating and a $48.00 price objective for the company. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $50.00.

Copart Stock Down 2.8 %

Shares of Copart stock opened at $55.74 on Friday. The company has a 50-day simple moving average of $53.14 and a two-hundred day simple moving average of $49.16. Copart, Inc. has a twelve month low of $36.78 and a twelve month high of $58.58. The stock has a market capitalization of $53.59 billion, a price-to-earnings ratio of 40.10 and a beta of 1.22.

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

Insider Activity

In related news, Chairman A Jayson Adair sold 600,000 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total value of $34,662,000.00. Following the transaction, the chairman now owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Thomas N. Tryforos sold 285,000 shares of the stock in a transaction that occurred 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 sale, the director now owns 35,000 shares in the company, valued at approximately $1,934,450. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman A Jayson Adair sold 600,000 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total value of $34,662,000.00. Following the sale, the chairman now owns 19,687,980 shares of the company’s stock, valued at $1,137,374,604.60. The disclosure for this sale can be found here. In the last three months, insiders sold 985,000 shares of company stock worth $55,519,950. 10.23% of the stock is currently owned by company insiders.

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.