Simon Quick Advisors LLC Raises Position in Copart, Inc. (NASDAQ:CPRT)

Simon Quick Advisors LLC grew its position in shares of Copart, Inc. (NASDAQ:CPRT) by 156.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 52,538 shares of the business services provider’s stock after acquiring an additional 32,038 shares during the period. Simon Quick Advisors LLC’s holdings in Copart were worth $3,015,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Optimum Investment Advisors grew its stake in Copart by 141.5% in the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after purchasing an additional 300 shares during the period. Eastern Bank bought a new stake in shares of Copart during the 3rd quarter valued at $29,000. Quarry LP purchased a new stake in shares of Copart in the 3rd quarter worth about $29,000. Ashton Thomas Securities LLC bought a new position in shares of Copart in the 3rd quarter worth about $33,000. Finally, True Wealth Design LLC lifted its position in Copart by 1,737.1% during the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 608 shares during the period. Institutional investors own 85.78% of the company’s stock.

Copart Trading Up 0.9 %

Copart stock opened at $57.44 on Wednesday. Copart, Inc. has a 12 month low of $47.73 and a 12 month high of $64.38. The company has a market capitalization of $55.35 billion, a price-to-earnings ratio of 40.45 and a beta of 1.33. The business’s fifty day simple moving average is $59.08 and its two-hundred day simple moving average is $54.76.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.37. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. Copart’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.34 EPS. On average, equities research analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Insider Activity at Copart

In other news, Director Diane M. Morefield sold 30,000 shares of the business’s 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 transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $1,160,200. The trade was a 60.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman A Jayson Adair sold 251,423 shares of Copart 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 completion of the sale, the chairman now directly owns 14,436,557 shares of the company’s stock, valued at approximately $920,907,971.03. This trade represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 650,213 shares of company stock valued at $39,199,813 over the last 90 days. Corporate insiders own 9.68% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. upped their price objective on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a report 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.