Sequoia Financial Advisors LLC Increases Position in Copart, Inc. (NASDAQ:CPRT)

Sequoia Financial Advisors LLC increased its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 51.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,847 shares of the business services provider’s stock after buying an additional 7,781 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Copart were worth $1,119,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new position in shares of Copart in the third quarter valued at approximately $25,000. Manchester Capital Management LLC increased its stake in Copart by 101.0% in the 3rd quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider’s stock valued at $27,000 after buying an additional 314 shares during the period. Quarry LP purchased a new position in Copart during the 1st quarter worth $29,000. Bell Investment Advisors Inc lifted its stake in shares of Copart by 87.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 694 shares of the business services provider’s stock worth $30,000 after acquiring an additional 323 shares during the period. Finally, Annapolis Financial Services LLC boosted its holdings in shares of Copart by 100.0% in the third quarter. Annapolis Financial Services LLC now owns 720 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 360 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. StockNews.com lowered Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. JPMorgan Chase & Co. upped their price objective on Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Copart currently has an average rating of “Hold” and an average price target of $51.00.

Insider Transactions at Copart

In other Copart news, Chairman A Jayson Adair sold 600,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $57.77, for a total transaction 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 approximately $1,137,374,604.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Matt Blunt sold 100,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $51.06, for a total value of $5,106,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman A Jayson Adair sold 600,000 shares of Copart 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 of the company’s stock, valued at approximately $1,137,374,604.60. The disclosure for this sale can be found here. Insiders sold 985,000 shares of company stock valued at $55,519,950 in the last 90 days. 10.23% of the stock is currently owned by insiders.

Copart Trading Down 1.1 %

CPRT stock opened at $55.38 on Friday. The firm has a 50 day moving average of $54.02 and a 200-day moving average of $49.72. The company has a market cap of $53.25 billion, a price-to-earnings ratio of 39.84 and a beta of 1.22. Copart, Inc. has a 12-month low of $38.05 and a 12-month high of $58.58.

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

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.