Copart, Inc. (NASDAQ:CPRT) Shares Sold by Claar Advisors LLC

Claar Advisors LLC cut its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 56.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,354 shares of the business services provider’s stock after selling 56,646 shares during the period. Copart makes up approximately 0.8% of Claar Advisors LLC’s holdings, making the stock its 18th biggest position. Claar Advisors LLC’s holdings in Copart were worth $2,272,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Manning & Napier Advisors LLC acquired a new stake in shares of Copart during the second quarter valued at approximately $109,382,000. Kinsale Capital Group Inc. raised its stake in Copart by 17.7% during the 3rd quarter. Kinsale Capital Group Inc. now owns 89,979 shares of the business services provider’s stock valued at $4,715,000 after purchasing an additional 13,554 shares during the period. Cetera Investment Advisers lifted its holdings in shares of Copart by 162.9% in the first quarter. Cetera Investment Advisers now owns 184,417 shares of the business services provider’s stock valued at $10,681,000 after purchasing an additional 114,263 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Copart during the second quarter valued at $5,418,000. Finally, Assenagon Asset Management S.A. raised its position in Copart by 263.0% during the second quarter. Assenagon Asset Management S.A. now owns 651,901 shares of the business services provider’s stock valued at $35,307,000 after buying an additional 472,318 shares during the period. 85.78% of the stock is currently owned by institutional investors.

Insider Activity

In other Copart news, Chairman A Jayson Adair sold 251,423 shares of the 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 owns 14,436,557 shares in the company, valued at $920,907,971.03. This trade represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 9.68% of the stock is currently owned by insiders.

Copart Stock Performance

NASDAQ:CPRT opened at $63.39 on Monday. The company has a market capitalization of $61.08 billion, a P/E ratio of 44.64 and a beta of 1.27. The stock’s 50 day moving average price is $55.06 and its 200 day moving average price is $53.50. Copart, Inc. has a 52 week low of $46.21 and a 52 week high of $64.38.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.34 EPS. As a group, sell-side analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CPRT shares. Robert W. Baird dropped their target price on Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. JPMorgan Chase & Co. upped their price objective 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 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.