Copart, Inc. (NASDAQ:CPRT) Shares Sold by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc trimmed its position in Copart, Inc. (NASDAQ:CPRT) by 0.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 430,979 shares of the business services provider’s stock after selling 200 shares during the period. Pinnacle Financial Partners Inc’s holdings in Copart were worth $24,087,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Navellier & Associates Inc. lifted its position in shares of Copart by 30.6% during the 4th quarter. Navellier & Associates Inc. now owns 26,785 shares of the business services provider’s stock valued at $1,537,000 after acquiring an additional 6,269 shares during the last quarter. Ipswich Investment Management Co. Inc. acquired a new stake in shares of Copart during the 4th quarter valued at $304,000. Transcend Capital Advisors LLC lifted its position in shares of Copart by 20.4% during the 4th quarter. Transcend Capital Advisors LLC now owns 13,721 shares of the business services provider’s stock valued at $787,000 after acquiring an additional 2,322 shares during the last quarter. Suncoast Equity Management lifted its position in shares of Copart by 8.0% during the 4th quarter. Suncoast Equity Management now owns 30,220 shares of the business services provider’s stock valued at $1,734,000 after acquiring an additional 2,230 shares during the last quarter. Finally, Boston Financial Mangement LLC lifted its position in shares of Copart by 0.6% during the 4th quarter. Boston Financial Mangement LLC now owns 2,001,097 shares of the business services provider’s stock valued at $114,843,000 after acquiring an additional 11,106 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Stock Down 2.8 %

Shares of CPRT opened at $56.61 on Friday. The stock has a market cap of $54.55 billion, a price-to-earnings ratio of 39.87 and a beta of 1.33. The company has a 50-day moving average price of $57.97 and a two-hundred day moving average price of $55.65. Copart, Inc. has a 12 month low of $48.05 and a 12 month high of $64.38.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. Equities research analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Transactions at Copart

In related news, Director Diane M. Morefield sold 30,000 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $1,160,200. This represents a 60.00 % decrease in their ownership of the stock. The sale 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 transaction of $5,153,556.60. Following the completion of the transaction, the director now directly owns 7,850 shares in the company, valued at $485,601. This trade represents a 91.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 650,213 shares of company stock worth $39,199,813 in the last ninety days. Insiders own 9.68% of the company’s stock.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. boosted their target price on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th.

Copart Company 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.