Weybosset Research & Management LLC Sells 10,005 Shares of Copart, Inc. (NASDAQ:CPRT)

Weybosset Research & Management LLC lessened its holdings in Copart, Inc. (NASDAQ:CPRT) by 1.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 633,789 shares of the business services provider’s stock after selling 10,005 shares during the period. Copart makes up 12.4% of Weybosset Research & Management LLC’s portfolio, making the stock its biggest position. Weybosset Research & Management LLC’s holdings in Copart were worth $36,373,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Optimum Investment Advisors grew its stake in shares of Copart by 141.5% during the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 300 shares during the last quarter. Eastern Bank acquired a new position in Copart in the third quarter valued at about $29,000. Quarry LP bought a new position in Copart during the 3rd quarter worth approximately $29,000. Meeder Asset Management Inc. increased its position in shares of Copart by 283.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after buying an additional 425 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Copart during the third quarter worth about $33,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Chairman A Jayson Adair sold 251,423 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the transaction, the chairman now directly owns 14,436,557 shares of the company’s stock, valued at approximately $920,907,971.03. The trade was a 1.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 sale, the director now directly owns 7,850 shares of the company’s stock, valued at $485,601. This represents a 91.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 650,213 shares of company stock valued at $39,199,813. 9.68% of the stock is owned by insiders.

Copart Stock Performance

Copart stock traded down $1.10 during mid-day trading on Friday, reaching $55.68. The company’s stock had a trading volume of 784,951 shares, compared to its average volume of 3,302,252. The business’s 50 day simple moving average is $58.81 and its 200 day simple moving average is $54.64. Copart, Inc. has a 12 month low of $47.19 and a 12 month high of $64.38. The company has a market capitalization of $53.65 billion, a price-to-earnings ratio of 39.21 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 (EPS) for the quarter, hitting the consensus estimate of $0.37. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.10 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. Copart’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.34 earnings per share. As a group, sell-side analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Copart Profile

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.