Galvin Gaustad & Stein LLC Sells 8,195 Shares of Copart, Inc. (NASDAQ:CPRT)

Galvin Gaustad & Stein LLC cut its holdings in Copart, Inc. (NASDAQ:CPRT) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 310,878 shares of the business services provider’s stock after selling 8,195 shares during the quarter. Copart comprises 1.6% of Galvin Gaustad & Stein LLC’s portfolio, making the stock its 23rd largest position. Galvin Gaustad & Stein LLC’s holdings in Copart were worth $17,841,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Optimum Investment Advisors raised its holdings 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 acquired a new stake in Copart in the third quarter worth $29,000. Quarry LP acquired a new stake in Copart in the third quarter worth $29,000. Ashton Thomas Securities LLC acquired a new stake in Copart in the third quarter worth $33,000. Finally, True Wealth Design LLC raised its holdings in shares of Copart by 1,737.1% during the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock worth $34,000 after acquiring an additional 608 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. raised 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 Stock Up 0.1 %

Shares of NASDAQ:CPRT opened at $57.51 on Thursday. Copart, Inc. has a 12 month low of $47.73 and a 12 month high of $64.38. The company’s fifty day simple moving average is $59.08 and its 200 day simple moving average is $54.78. The firm has a market cap of $55.41 billion, a price-to-earnings ratio of 40.39 and a beta of 1.33.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, hitting analysts’ consensus estimates of $0.37. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.10 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period last year, the business posted $0.34 earnings per share. Research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Activity at Copart

In related news, Director Diane M. Morefield sold 30,000 shares of Copart stock in a transaction dated 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 sale, the director now owns 20,000 shares of the company’s stock, valued at approximately $1,160,200. The trade was a 60.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction dated 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 sale, the chairman now directly owns 14,436,557 shares of the company’s stock, valued at $920,907,971.03. The trade was a 1.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 650,213 shares of company stock valued at $39,199,813. Corporate insiders own 9.68% of the company’s stock.

About Copart

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.