Trust Point Inc. Purchases 753 Shares of Copart, Inc. (NASDAQ:CPRT)

Trust Point Inc. grew its position in shares of Copart, Inc. (NASDAQ:CPRT) by 9.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 9,129 shares of the business services provider’s stock after acquiring an additional 753 shares during the quarter. Trust Point Inc.’s holdings in Copart were worth $524,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CPRT. Optimum Investment Advisors boosted its position in shares of Copart by 141.5% during the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 300 shares during the last quarter. Eastern Bank bought a new stake in Copart in the third quarter worth $29,000. Quarry LP bought a new stake in Copart in the third quarter worth $29,000. Ashton Thomas Securities LLC bought a new stake in Copart in the third quarter worth $33,000. Finally, True Wealth Design LLC lifted its position in Copart by 1,737.1% in the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock worth $34,000 after buying an additional 608 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. raised their price target on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th.

Copart Stock Up 1.5 %

Shares of CPRT opened at $58.72 on Thursday. The business has a fifty day moving average of $58.78 and a 200 day moving average of $55.06. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38. The company has a market cap of $56.58 billion, a PE ratio of 41.35 and a beta of 1.33.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.37. Copart had a return on equity of 18.96% and a net margin of 31.92%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter last year, the firm posted $0.34 earnings per share. The business’s revenue was up 12.4% compared to the same quarter last year. As a group, research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Daniel J. Englander sold 235,480 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Thomas N. Tryforos sold 83,310 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $61.86, for a total value of $5,153,556.60. Following the transaction, the director now owns 7,850 shares in the company, valued at approximately $485,601. This represents a 91.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 650,213 shares of company stock worth $39,199,813 over the last quarter. Company insiders own 9.68% of the company’s stock.

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.