Copart, Inc. (NASDAQ:CPRT) is Kimelman & Baird LLC’s 2nd Largest Position

Kimelman & Baird LLC trimmed its holdings in Copart, Inc. (NASDAQ:CPRT) by 2.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,247,667 shares of the business services provider’s stock after selling 33,945 shares during the period. Copart accounts for approximately 5.7% of Kimelman & Baird LLC’s portfolio, making the stock its 2nd largest position. Kimelman & Baird LLC owned about 0.13% of Copart worth $71,604,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Quarry LP acquired a new position in shares of Copart during the third quarter worth about $29,000. True Wealth Design LLC increased its stake in shares of Copart by 1,737.1% during the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock worth $34,000 after acquiring an additional 608 shares during the period. Curio Wealth LLC acquired a new position in shares of Copart during the fourth quarter worth about $52,000. Retirement Wealth Solutions LLC acquired a new position in shares of Copart during the fourth quarter worth about $54,000. Finally, Continuum Advisory LLC increased its stake in shares of Copart by 88.6% during the third quarter. Continuum Advisory LLC now owns 962 shares of the business services provider’s stock worth $55,000 after acquiring an additional 452 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CPRT shares. Argus lowered shares of Copart from a “buy” rating to a “hold” rating in a research note on Friday. JPMorgan Chase & Co. upped their target price on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th.

Insider Activity

In other news, Director Matt Blunt sold 50,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total value of $2,883,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Diane M. Morefield sold 30,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 20,000 shares in the company, valued at $1,160,200. This represents a 60.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 315,480 shares of company stock worth $18,007,983 over the last ninety days. 9.68% of the stock is currently owned by insiders.

Copart Trading Up 0.7 %

Shares of CPRT opened at $52.65 on Monday. The firm’s 50-day moving average is $56.71 and its two-hundred day moving average is $56.01. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38. The firm has a market capitalization of $50.86 billion, a P/E ratio of 35.34 and a beta of 1.30.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. Copart had a net margin of 32.27% and a return on equity of 19.31%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. Analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

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.