TrimTabs Asset Management LLC decreased its stake in Copart Inc. (NASDAQ:CPRT) by 18.9% during the second quarter, Holdings Channel reports. The firm owned 39,097 shares of the company’s stock after selling 9,137 shares during the period. Copart comprises 1.2% of TrimTabs Asset Management LLC’s holdings, making the stock its 2nd largest position. TrimTabs Asset Management LLC’s holdings in Copart were worth $1,916,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Fox Run Management L.L.C. acquired a new position in Copart during the second quarter valued at approximately $250,000. Atria Investments LLC acquired a new position in Copart during the second quarter valued at approximately $276,000. LS Investment Advisors LLC increased its position in Copart by 67.8% in the second quarter. LS Investment Advisors LLC now owns 6,149 shares of the company’s stock valued at $301,000 after buying an additional 2,484 shares during the period. IBM Retirement Fund increased its position in Copart by 29.9% in the second quarter. IBM Retirement Fund now owns 9,877 shares of the company’s stock valued at $484,000 after buying an additional 2,275 shares during the period. Finally, Bank of Montreal Can acquired a new position in Copart during the second quarter valued at approximately $752,000. 80.14% of the stock is currently owned by hedge funds and other institutional investors.
Copart Inc. (NASDAQ:CPRT) traded up 0.42% during mid-day trading on Wednesday, reaching $54.35. 109,634 shares of the company traded hands. The company’s 50 day moving average price is $52.41 and its 200 day moving average price is $48.47. The firm has a market capitalization of $6.20 billion, a P/E ratio of 24.59 and a beta of 0.95. Copart Inc. has a 12-month low of $32.26 and a 12-month high of $54.85.
Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Tuesday, September 20th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.04. The business had revenue of $332.70 million for the quarter. Copart had a return on equity of 31.42% and a net margin of 21.25%. The firm’s revenue was up 17.9% on a year-over-year basis. During the same period last year, the company earned $0.41 earnings per share. Equities research analysts predict that Copart Inc. will post $2.42 EPS for the current year.
Several research analysts have commented on the stock. Stephens set a $61.00 price target on shares of Copart and gave the stock a “buy” rating in a research note on Thursday, September 22nd. Zacks Investment Research upgraded shares of Copart from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a report on Monday, September 26th. Jefferies Group raised their target price on shares of Copart from $53.00 to $55.00 and gave the stock a “hold” rating in a report on Thursday, September 22nd. Northcoast Research cut shares of Copart from a “buy” rating to a “neutral” rating in a report on Thursday, August 25th. Finally, Barrington Research cut shares of Copart from an “outperform” rating to a “market perform” rating in a report on Friday, September 23rd. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $55.57.
In related news, COO Sean Eldridge sold 22,485 shares of the stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $53.61, for a total transaction of $1,205,420.85. Following the sale, the chief operating officer now owns 23,317 shares in the company, valued at approximately $1,250,024.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO A Jayson Adair sold 200,000 shares of the stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $53.61, for a total value of $10,722,000.00. The disclosure for this sale can be found here. Insiders own 19.40% of the company’s stock.
Copart, Inc is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain and Brazil. The Company also provides vehicle remarketing services in Germany and Spain. It provides vehicle sellers with services to process and sell vehicles primarily over the Internet through its virtual bidding third generation Internet auction-style sales technology (VB3).
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