Copart, Inc. (NASDAQ:CPRT) Shares Sold by Park Place Capital Corp

Park Place Capital Corp lessened its holdings in Copart, Inc. (NASDAQ:CPRT) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,183 shares of the business services provider’s stock after selling 366 shares during the quarter. Park Place Capital Corp’s holdings in Copart were worth $548,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP acquired a new position in Copart in the first quarter worth $29,000. Cornerstone Planning Group LLC acquired a new position in shares of Copart during the second quarter valued at $38,000. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Copart during the second quarter valued at $38,000. Hollencrest Capital Management boosted its holdings in shares of Copart by 92.1% during the first quarter. Hollencrest Capital Management now owns 438 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 210 shares during the period. Finally, West Tower Group LLC acquired a new position in shares of Copart during the second quarter valued at $49,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Trading Up 1.8 %

CPRT stock traded up $1.02 during trading on Friday, hitting $56.76. The company had a trading volume of 1,958,826 shares, compared to its average volume of 4,709,172. The firm has a market capitalization of $54.57 billion, a price-to-earnings ratio of 40.73 and a beta of 1.22. The business has a 50 day moving average of $53.14 and a 200 day moving average of $49.16. Copart, Inc. has a fifty-two week low of $36.78 and a fifty-two week high of $58.58.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.02). Copart had a return on equity of 21.55% and a net margin of 33.41%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the company earned $0.31 EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, equities analysts predict that Copart, Inc. will post 1.42 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CPRT shares. StockNews.com downgraded shares of Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. JPMorgan Chase & Co. began coverage on shares of Copart in a report on Tuesday, February 27th. They set a “neutral” rating and a $48.00 price target for the company. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $50.00.

Insiders Place Their Bets

In other Copart news, Chairman A Jayson Adair sold 600,000 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $57.77, for a total value of $34,662,000.00. Following the sale, the chairman now directly owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Copart news, Director Matt Blunt sold 100,000 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $51.06, for a total transaction of $5,106,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman A Jayson Adair sold 600,000 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $57.77, for a total value of $34,662,000.00. Following the sale, the chairman now owns 19,687,980 shares in the company, valued at approximately $1,137,374,604.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 985,000 shares of company stock worth $55,519,950. 10.23% of the stock is owned by corporate insiders.

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.