Van ECK Associates Corp Buys 65,025 Shares of Copart, Inc. (NASDAQ:CPRT)

Van ECK Associates Corp increased its holdings in Copart, Inc. (NASDAQ:CPRTFree Report) by 106.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 125,857 shares of the business services provider’s stock after acquiring an additional 65,025 shares during the quarter. Van ECK Associates Corp’s holdings in Copart were worth $5,423,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Principal Financial Group Inc. increased its stake in Copart by 96.8% in the third quarter. Principal Financial Group Inc. now owns 39,803,057 shares of the business services provider’s stock valued at $1,715,114,000 after acquiring an additional 19,576,719 shares during the last quarter. BlackRock Inc. increased its stake in Copart by 2.6% in the second quarter. BlackRock Inc. now owns 39,500,287 shares of the business services provider’s stock valued at $3,602,821,000 after acquiring an additional 994,697 shares during the last quarter. Vanguard Group Inc. increased its stake in Copart by 1.2% in the first quarter. Vanguard Group Inc. now owns 22,968,882 shares of the business services provider’s stock valued at $2,881,905,000 after acquiring an additional 270,867 shares during the last quarter. State Street Corp increased its stake in Copart by 3.2% in the second quarter. State Street Corp now owns 16,582,550 shares of the business services provider’s stock valued at $1,512,494,000 after acquiring an additional 513,244 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Copart by 8.7% in the second quarter. JPMorgan Chase & Co. now owns 9,692,271 shares of the business services provider’s stock valued at $884,032,000 after acquiring an additional 778,807 shares during the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Copart Trading Down 0.1 %

Shares of NASDAQ:CPRT opened at $50.91 on Monday. The stock’s 50-day moving average price is $48.63 and its 200-day moving average price is $48.68. Copart, Inc. has a 12-month low of $33.62 and a 12-month high of $51.53. The stock has a market capitalization of $48.88 billion, a P/E ratio of 37.30 and a beta of 1.22.

Copart (NASDAQ:CPRTGet Free Report) last posted its earnings results on Thursday, November 16th. The business services provider reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.02. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $987.90 million. Copart had a return on equity of 22.45% and a net margin of 33.14%. Copart’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period last year, the firm earned $0.25 earnings per share. As a group, research analysts predict that Copart, Inc. will post 1.45 EPS for the current year.

Insider Buying and Selling

In related news, Director Daniel J. Englander sold 320,000 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $47.04, for a total value of $15,052,800.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Daniel J. Englander sold 320,000 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $47.04, for a total value of $15,052,800.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Willis J. Johnson sold 100,765 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $49.83, for a total transaction of $5,021,119.95. Following the completion of the sale, the chairman now owns 50,681,963 shares of the company’s stock, valued at $2,525,482,216.29. The disclosure for this sale can be found here. 10.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CPRT. HSBC began coverage on Copart in a research note on Monday, December 4th. They set a “hold” rating and a $51.00 price objective on the stock. StockNews.com raised Copart from a “hold” rating to a “buy” rating in a research note on Monday, October 30th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $45.50.

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Copart Company Profile

(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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