Ashford Capital Management Inc. Sells 265,360 Shares of Copart, Inc. $CPRT

Ashford Capital Management Inc. decreased its holdings in Copart, Inc. (NASDAQ:CPRT) by 63.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 154,989 shares of the business services provider’s stock after selling 265,360 shares during the quarter. Ashford Capital Management Inc.’s holdings in Copart were worth $6,068,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CPRT. Brighton Jones LLC boosted its stake in shares of Copart by 92.1% in the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock worth $816,000 after acquiring an additional 6,817 shares during the period. Geneos Wealth Management Inc. boosted its stake in Copart by 365.8% during the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock valued at $63,000 after buying an additional 878 shares during the last quarter. Jump Financial LLC bought a new position in Copart during the second quarter valued at approximately $2,677,000. Sei Investments Co. boosted its stake in Copart by 110.0% during the second quarter. Sei Investments Co. now owns 900,330 shares of the business services provider’s stock valued at $44,179,000 after buying an additional 471,571 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in Copart by 3.5% during the second quarter. Treasurer of the State of North Carolina now owns 413,083 shares of the business services provider’s stock valued at $20,270,000 after buying an additional 13,860 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Copart Price Performance

Shares of CPRT stock opened at $30.74 on Wednesday. Copart, Inc. has a 1 year low of $29.97 and a 1 year high of $50.11. The stock’s 50 day simple moving average is $32.74 and its two-hundred day simple moving average is $36.06. The company has a market cap of $28.46 billion, a PE ratio of 19.09 and a beta of 1.00.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. Copart had a return on equity of 16.63% and a net margin of 33.48%.The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the business posted $0.42 earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities research analysts expect that Copart, Inc. will post 1.58 EPS for the current year.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 26,213 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total value of $869,747.34. Following the sale, the chief executive officer directly owned 79,532 shares in the company, valued at approximately $2,638,871.76. This represents a 24.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 9.60% of the company’s stock.

Analyst Ratings Changes

CPRT has been the subject of a number of research reports. Jefferies Financial Group set a $45.00 price target on Copart in a research note on Friday, May 22nd. Robert W. Baird set a $48.00 price target on Copart and gave the company an “outperform” rating in a research note on Friday, February 20th. Zacks Research raised Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. JPMorgan Chase & Co. dropped their price target on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Finally, Weiss Ratings lowered Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $44.50.

About Copart

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.