Canandaigua National Bank & Trust Co. Cuts Stake in Copart, Inc. (NASDAQ:CPRT)

Canandaigua National Bank & Trust Co. lessened its stake in Copart, Inc. (NASDAQ:CPRTFree Report) by 4.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,143 shares of the business services provider’s stock after selling 303 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Copart were worth $356,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Fortitude Family Office LLC purchased a new position in Copart in the fourth quarter worth about $34,000. C M Bidwell & Associates Ltd. raised its stake in shares of Copart by 100.0% in the third quarter. C M Bidwell & Associates Ltd. now owns 872 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 436 shares during the period. Trust Co. of Vermont bought a new stake in shares of Copart in the 4th quarter worth about $38,000. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Copart during the 4th quarter worth about $40,000. Finally, Alaska Permanent Fund Corp bought a new position in shares of Copart during the fourth quarter valued at approximately $43,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Trading Up 0.6 %

NASDAQ CPRT traded up $0.34 on Tuesday, hitting $54.69. 1,024,510 shares of the company’s stock traded hands, compared to its average volume of 4,354,079. The firm’s 50-day moving average price is $54.30 and its two-hundred day moving average price is $52.26. Copart, Inc. has a 1-year low of $42.41 and a 1-year high of $58.58. The firm has a market capitalization of $52.63 billion, a PE ratio of 38.23 and a beta of 1.26.

Copart (NASDAQ:CPRTGet Free Report) last released its quarterly earnings results on Thursday, May 16th. The business services provider reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.11 billion. Copart had a net margin of 33.33% and a return on equity of 20.80%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 EPS. On average, research analysts anticipate that Copart, Inc. will post 1.43 earnings per share for the current fiscal year.

Insider Activity

In related news, Chairman A Jayson Adair sold 600,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 10.23% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on CPRT shares. StockNews.com downgraded shares of Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. lifted their price objective on shares of Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $51.00.

Read Our Latest Report on Copart

About Copart

(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.

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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