Copart, Inc. (NASDAQ:CPRT) Shares Sold by Manning & Napier Group LLC

Manning & Napier Group LLC lowered its stake in Copart, Inc. (NASDAQ:CPRT) by 3.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,838,604 shares of the business services provider’s stock after selling 69,751 shares during the quarter. Copart comprises about 1.1% of Manning & Napier Group LLC’s portfolio, making the stock its 29th biggest holding. Manning & Napier Group LLC owned 0.19% of Copart worth $90,092,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. OFI Invest Asset Management bought a new stake in Copart in the third quarter worth about $25,000. Manchester Capital Management LLC raised its position in Copart by 101.0% in the third quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider’s stock worth $27,000 after acquiring an additional 314 shares in the last quarter. Quarry LP bought a new stake in Copart in the first quarter worth about $29,000. Bell Investment Advisors Inc raised its position in Copart by 87.1% in the third 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 in the last quarter. Finally, Annapolis Financial Services LLC raised its position in Copart by 100.0% in the third quarter. Annapolis Financial Services LLC now owns 720 shares of the business services provider’s stock worth $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.

Wall Street Analyst Weigh In

Several brokerages have commented on CPRT. HSBC began coverage on shares of Copart in a research report on Monday, December 4th. They issued a “hold” rating and a $51.00 price target on the stock. JPMorgan Chase & Co. began coverage on Copart in a report on Tuesday, February 27th. They set a “neutral” rating and a $48.00 price objective on the stock. Finally, 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 issued a buy rating to the company. According to data from MarketBeat.com, Copart has an average rating of “Hold” and a consensus price target of $50.00.

Copart Stock Up 1.2 %

Shares of CPRT traded up $0.68 during trading hours on Friday, reaching $57.92. The company’s stock had a trading volume of 5,084,249 shares, compared to its average volume of 5,535,906. The firm has a market cap of $55.69 billion, a price-to-earnings ratio of 41.67 and a beta of 1.22. Copart, Inc. has a 1-year low of $36.63 and a 1-year high of $58.15. The company has a 50 day moving average of $52.32 and a two-hundred day moving average of $48.72.

Copart (NASDAQ:CPRT) last issued 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 business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. Copart had a net margin of 33.41% and a return on equity of 21.55%. Copart’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 EPS. As a group, analysts forecast that Copart, Inc. will post 1.42 EPS for the current fiscal year.

Insider Activity at Copart

In related news, Director Daniel J. Englander sold 320,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $47.04, for a total value of $15,052,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Copart news, Director Matt Blunt sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $51.06, for a total transaction of $5,106,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel J. Englander sold 320,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $47.04, for a total value of $15,052,800.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 705,000 shares of company stock valued at $35,910,750. 10.23% of the stock is owned by corporate insiders.

Copart Company Profile

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.