Truist Financial Corp Has $6.35 Million Stake in Copart, Inc. (NASDAQ:CPRT)

Truist Financial Corp boosted its stake in Copart, Inc. (NASDAQ:CPRT) by 2.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 129,637 shares of the business services provider’s stock after buying an additional 2,960 shares during the period. Truist Financial Corp’s holdings in Copart were worth $6,352,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. OFI Invest Asset Management bought a new position in Copart in the 3rd quarter valued at $25,000. Manchester Capital Management LLC raised its position 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 purchasing an additional 314 shares during the last quarter. Bell Investment Advisors Inc raised its position in Copart by 87.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 694 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 323 shares during the last quarter. Annapolis Financial Services LLC raised its position in Copart by 100.0% in the 3rd quarter. Annapolis Financial Services LLC now owns 720 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 360 shares during the last quarter. Finally, Fortitude Family Office LLC bought a new position in Copart in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Activity at Copart

In related news, Chairman A Jayson Adair sold 600,000 shares of the company’s 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 completion of the sale, the chairman now owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman A Jayson Adair sold 600,000 shares of the company’s 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 completion of the sale, the chairman now owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas N. Tryforos sold 285,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $55.27, for a total value of $15,751,950.00. Following the completion of the sale, the director now owns 35,000 shares of the company’s stock, valued at approximately $1,934,450. The disclosure for this sale can be found here. Over the last quarter, insiders sold 985,000 shares of company stock worth $55,519,950. 10.23% of the stock is owned by insiders.

Copart Stock Up 1.5 %

CPRT stock opened at $55.20 on Friday. The company has a market cap of $53.07 billion, a P/E ratio of 39.71 and a beta of 1.22. Copart, Inc. has a twelve month low of $39.06 and a twelve month high of $58.58. The business has a fifty day moving average of $55.40 and a 200-day moving average of $50.72.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. Copart had a return on equity of 21.55% and a net margin of 33.41%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 EPS. As a group, equities research analysts anticipate that Copart, Inc. will post 1.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. StockNews.com downgraded Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. boosted their target price on Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $51.00.

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.