Resonant Capital Advisors LLC Sells 3,729 Shares of Copart, Inc. (NASDAQ:CPRT)

Resonant Capital Advisors LLC decreased its position in Copart, Inc. (NASDAQ:CPRT) by 14.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 22,553 shares of the business services provider’s stock after selling 3,729 shares during the period. Resonant Capital Advisors LLC’s holdings in Copart were worth $1,105,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Quarry LP bought a new stake in Copart in the first quarter valued at $29,000. Cornerstone Planning Group LLC bought a new stake in Copart in the second quarter valued at $38,000. Benjamin F. Edwards & Company Inc. bought a new stake in Copart in the second quarter valued at $38,000. Hollencrest Capital Management boosted its holdings in Copart by 92.1% in the first quarter. Hollencrest Capital Management now owns 438 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 210 shares in the last quarter. Finally, First Capital Advisors Group LLC. bought a new stake in shares of Copart during the 2nd quarter valued at $50,000. Institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling

In related news, Director Matt Blunt sold 100,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $51.06, for a total value of $5,106,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Copart news, Chairman A Jayson Adair sold 600,000 shares of the company’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 transaction, the chairman now owns 19,687,980 shares in the company, valued at approximately $1,137,374,604.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matt Blunt sold 100,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $51.06, for a total transaction of $5,106,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 985,000 shares of company stock worth $55,519,950 in the last quarter. Corporate insiders own 10.23% of the company’s stock.

Copart Price Performance

Shares of Copart stock opened at $52.88 on Friday. The stock has a market cap of $50.84 billion, a price-to-earnings ratio of 38.04 and a beta of 1.22. The firm’s 50-day moving average is $54.34 and its 200 day moving average is $50.05. Copart, Inc. has a 1 year low of $38.35 and a 1 year high of $58.58.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The firm had revenue of $1.02 billion during 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 business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.31 EPS. On average, equities analysts expect that Copart, Inc. will post 1.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CPRT has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, April 8th. StockNews.com cut shares of 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 issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus 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.