Fifth Third Bancorp Sells 4,767 Shares of Copart, Inc. (NASDAQ:CPRT)

Fifth Third Bancorp lessened its holdings in shares of Copart, Inc. (NASDAQ:CPRTFree Report) by 6.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,919 shares of the business services provider’s stock after selling 4,767 shares during the period. Fifth Third Bancorp’s holdings in Copart were worth $3,671,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CPRT. Vanguard Group Inc. increased its holdings in Copart by 100.6% during the 3rd quarter. Vanguard Group Inc. now owns 97,512,662 shares of the business services provider’s stock valued at $4,201,821,000 after purchasing an additional 48,891,984 shares during the period. Principal Financial Group Inc. increased its holdings in Copart by 96.8% during the 3rd quarter. Principal Financial Group Inc. now owns 39,803,057 shares of the business services provider’s stock valued at $1,715,114,000 after purchasing an additional 19,576,719 shares during the period. Wellington Management Group LLP increased its holdings in Copart by 84.4% during the 3rd quarter. Wellington Management Group LLP now owns 17,929,180 shares of the business services provider’s stock valued at $772,568,000 after purchasing an additional 8,205,757 shares during the period. JPMorgan Chase & Co. increased its holdings in Copart by 79.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,359,152 shares of the business services provider’s stock valued at $748,006,000 after purchasing an additional 7,666,881 shares during the period. Finally, FMR LLC increased its holdings in Copart by 93.6% during the 3rd quarter. FMR LLC now owns 14,733,860 shares of the business services provider’s stock valued at $634,882,000 after purchasing an additional 7,122,991 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analyst Ratings Changes

CPRT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. initiated coverage on Copart in a report on Tuesday, February 27th. They set a “neutral” rating and a $48.00 target price on the stock. StockNews.com downgraded Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Copart presently has a consensus rating of “Hold” and an average price target of $50.00.

Get Our Latest Research Report on CPRT

Insider Transactions at Copart

In other news, Chairman A Jayson Adair sold 600,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 19,687,980 shares of the company’s stock, valued at approximately $1,137,374,604.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Thomas N. Tryforos sold 285,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total value of $15,751,950.00. Following the sale, the director now directly owns 35,000 shares of the company’s stock, valued at approximately $1,934,450. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman A Jayson Adair sold 600,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chairman now directly owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The disclosure for this sale can be found here. Insiders have sold a total of 985,000 shares of company stock valued at $55,519,950 in the last ninety days. 10.23% of the stock is currently owned by corporate insiders.

Copart Stock Performance

CPRT stock opened at $57.25 on Wednesday. Copart, Inc. has a fifty-two week low of $36.78 and a fifty-two week high of $58.58. The business’s 50 day moving average price is $52.83 and its two-hundred day moving average price is $49.06. The company has a market capitalization of $55.05 billion, a price-to-earnings ratio of 41.19 and a beta of 1.22.

Copart (NASDAQ:CPRTGet Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $1.03 billion. During the same period in the prior year, the firm earned $0.31 earnings per share. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. Sell-side analysts forecast that Copart, Inc. will post 1.42 earnings per share for the current year.

Copart Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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