Russell Investments Group Ltd. Sells 49,371 Shares of Copart, Inc. (NASDAQ:CPRT)

Russell Investments Group Ltd. reduced its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 4.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 996,561 shares of the business services provider’s stock after selling 49,371 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.10% of Copart worth $48,827,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. First Citizens Bank & Trust Co. boosted its holdings in shares of Copart by 3.6% in the 4th quarter. First Citizens Bank & Trust Co. now owns 7,729 shares of the business services provider’s stock valued at $379,000 after buying an additional 268 shares during the last quarter. BSW Wealth Partners grew its position in shares of Copart by 4.1% in the 4th quarter. BSW Wealth Partners now owns 6,972 shares of the business services provider’s stock valued at $342,000 after acquiring an additional 277 shares during the period. Manchester Capital Management LLC increased its stake in shares of Copart by 101.0% during the 3rd quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider’s stock worth $27,000 after purchasing an additional 314 shares during the last quarter. Bell Investment Advisors Inc raised its holdings in shares of Copart by 87.1% in the 3rd 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 period. Finally, Annapolis Financial Services LLC lifted its stake in Copart by 100.0% in the 3rd 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 owned by institutional investors.

Copart Price Performance

Copart stock opened at $55.71 on Tuesday. The firm has a market cap of $53.57 billion, a PE ratio of 40.08 and a beta of 1.22. The stock’s fifty day moving average price is $55.00 and its two-hundred day moving average price is $50.55. Copart, Inc. has a one year low of $38.83 and a one year high of $58.58.

Copart (NASDAQ:CPRT) last issued 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 firm 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%. Copart’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.31 earnings per share. Sell-side analysts expect that Copart, Inc. will post 1.42 earnings per share for the current fiscal year.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CPRT shares. JPMorgan Chase & Co. lifted their price objective on shares of Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. StockNews.com downgraded shares of Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Copart presently has a consensus rating of “Hold” and a consensus target price of $51.00.

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.