Hantz Financial Services Inc. Trims Stake in Copart, Inc. (NASDAQ:CPRT)

Hantz Financial Services Inc. trimmed its position in Copart, Inc. (NASDAQ:CPRT) by 3.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 350,633 shares of the business services provider’s stock after selling 14,017 shares during the quarter. Hantz Financial Services Inc.’s holdings in Copart were worth $20,123,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Optimum Investment Advisors lifted its stake in Copart by 141.5% in the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after acquiring an additional 300 shares during the period. Eastern Bank purchased a new stake in shares of Copart in the 3rd quarter worth approximately $29,000. Quarry LP bought a new position in shares of Copart during the third quarter valued at approximately $29,000. Ashton Thomas Securities LLC purchased a new position in Copart during the third quarter valued at approximately $33,000. Finally, True Wealth Design LLC raised its stake in Copart by 1,737.1% in the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock worth $34,000 after buying an additional 608 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. increased their target price on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th.

Copart Stock Performance

CPRT stock opened at $57.31 on Wednesday. Copart, Inc. has a one year low of $47.73 and a one year high of $64.38. The firm has a market cap of $55.22 billion, a price-to-earnings ratio of 40.36 and a beta of 1.33. The firm has a 50-day simple moving average of $59.14 and a two-hundred day simple moving average of $54.86.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, meeting analysts’ consensus estimates of $0.37. Copart had a net margin of 31.92% and a return on equity of 18.96%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the company posted $0.34 earnings per share. Copart’s revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, equities analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Transactions at Copart

In related news, Chairman A Jayson Adair sold 251,423 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total value of $16,038,273.17. Following the completion of the transaction, the chairman now directly owns 14,436,557 shares of the company’s stock, valued at $920,907,971.03. This trade represents a 1.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel J. Englander sold 235,480 shares of Copart stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. Insiders sold 650,213 shares of company stock valued at $39,199,813 in the last quarter. 9.68% of the stock is currently 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.