Gladstone Institutional Advisory LLC Reduces Stock Position in Copart, Inc. (NASDAQ:CPRT)

Gladstone Institutional Advisory LLC trimmed its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 8.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,588 shares of the business services provider’s stock after selling 1,347 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Copart were worth $764,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Manchester Capital Management LLC grew its stake in Copart by 101.0% in the 3rd quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider’s stock worth $27,000 after acquiring an additional 314 shares during the period. Bell Investment Advisors Inc grew its stake in Copart by 87.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 694 shares of the business services provider’s stock worth $30,000 after acquiring an additional 323 shares during the period. Fortitude Family Office LLC purchased a new stake in Copart in the 4th quarter worth approximately $34,000. Cornerstone Planning Group LLC grew its stake in Copart by 98.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 818 shares of the business services provider’s stock worth $35,000 after acquiring an additional 406 shares during the period. Finally, C M Bidwell & Associates Ltd. grew its stake in Copart by 100.0% in the 3rd quarter. C M Bidwell & Associates Ltd. now owns 872 shares of the business services provider’s stock worth $38,000 after acquiring an additional 436 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Copart

In related news, Director Matt Blunt sold 100,000 shares of Copart 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Matt Blunt sold 100,000 shares of Copart 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman A Jayson Adair sold 600,000 shares of Copart stock in a transaction 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 transaction, the chairman now 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. Insiders have sold a total of 985,000 shares of company stock worth $55,519,950 in the last quarter. 10.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

Copart Stock Up 0.0 %

Shares of CPRT opened at $54.93 on Wednesday. The firm has a market cap of $52.82 billion, a PE ratio of 38.68 and a beta of 1.22. The company’s fifty day moving average is $55.65 and its two-hundred day moving average is $51.72. Copart, Inc. has a fifty-two week low of $42.41 and a fifty-two week high of $58.58.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, May 16th. The business services provider reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.11 billion. Copart had a net margin of 33.33% and a return on equity of 20.80%. Copart’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the business earned $0.36 EPS. As a group, equities research analysts anticipate that Copart, Inc. will post 1.44 earnings per share 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.