PNC Financial Services Group Inc. Sells 2,240 Shares of Copart, Inc. (NASDAQ:CPRT)

PNC Financial Services Group Inc. lowered its stake in Copart, Inc. (NASDAQ:CPRTGet Rating) by 4.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 46,532 shares of the business services provider’s stock after selling 2,240 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Copart were worth $5,839,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Rather & Kittrell Inc. purchased a new stake in Copart during the 4th quarter valued at $37,000. Perkins Coie Trust Co raised its stake in shares of Copart by 78.4% during the first quarter. Perkins Coie Trust Co now owns 264 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 116 shares during the last quarter. American National Bank boosted its holdings in shares of Copart by 58.2% during the first quarter. American National Bank now owns 280 shares of the business services provider’s stock worth $35,000 after purchasing an additional 103 shares during the period. NuWave Investment Management LLC boosted its holdings in shares of Copart by 91.5% during the first quarter. NuWave Investment Management LLC now owns 362 shares of the business services provider’s stock worth $45,000 after purchasing an additional 173 shares during the period. Finally, Covestor Ltd bought a new stake in shares of Copart in the fourth quarter worth about $57,000. Hedge funds and other institutional investors own 80.92% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on CPRT shares. Guggenheim lowered their price target on Copart to $151.00 in a research report on Friday, May 20th. Stephens upped their target price on Copart to $145.00 and gave the company an “overweight” rating in a report on Friday, May 20th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Copart presently has an average rating of “Hold” and an average target price of $157.75.

Copart Price Performance

CPRT stock opened at $116.40 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.47 and a quick ratio of 5.35. Copart, Inc. has a 1 year low of $102.21 and a 1 year high of $161.12. The firm has a 50-day moving average of $121.13 and a 200 day moving average of $118.56. The company has a market cap of $27.67 billion, a P/E ratio of 25.92 and a beta of 1.15.

Insiders Place Their Bets

In other news, Director Matt Blunt sold 10,000 shares of the stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $115.72, for a total value of $1,157,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 11.18% of the company’s stock.

About Copart

(Get Rating)

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.

Further Reading

Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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