Power Corp of Canada Grows Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Power Corp of Canada grew its holdings in shares of Copart, Inc. (NASDAQ:CPRTFree Report) by 652.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 101,879 shares of the business services provider’s stock after purchasing an additional 88,331 shares during the period. Power Corp of Canada’s holdings in Copart were worth $4,992,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Caxton Associates LP bought a new position in Copart in the 4th quarter valued at approximately $9,800,000. Ethic Inc. lifted its position in Copart by 14.2% in the 4th quarter. Ethic Inc. now owns 157,156 shares of the business services provider’s stock valued at $7,701,000 after acquiring an additional 19,584 shares in the last quarter. Wasatch Advisors LP lifted its position in Copart by 18.5% in the 4th quarter. Wasatch Advisors LP now owns 35,719 shares of the business services provider’s stock valued at $1,750,000 after acquiring an additional 5,573 shares in the last quarter. Symmetry Investments LP lifted its position in Copart by 133.7% in the 4th quarter. Symmetry Investments LP now owns 52,804 shares of the business services provider’s stock valued at $2,587,000 after acquiring an additional 30,214 shares in the last quarter. Finally, Vontobel Asset Management Inc. lifted its position in Copart by 4.3% in the 4th quarter. Vontobel Asset Management Inc. now owns 598,699 shares of the business services provider’s stock valued at $30,516,000 after acquiring an additional 24,621 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

View Our Latest Research Report on CPRT

Copart Price Performance

Shares of NASDAQ:CPRT traded down $0.32 during midday trading on Tuesday, hitting $53.27. The company had a trading volume of 2,628,256 shares, compared to its average volume of 4,406,607. The company has a market cap of $51.26 billion, a price-to-earnings ratio of 37.49 and a beta of 1.26. Copart, Inc. has a 12-month low of $42.41 and a 12-month high of $58.58. The company has a fifty day moving average of $54.61 and a two-hundred day moving average of $52.15.

Copart (NASDAQ:CPRTGet Free Report) last posted its quarterly earnings data on Thursday, May 16th. The business services provider reported $0.39 EPS 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 analyst estimates of $1.11 billion. Copart had a return on equity of 20.80% and a net margin of 33.33%. Copart’s revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.36 EPS. Research analysts expect that Copart, Inc. will post 1.43 earnings per share for the current fiscal year.

Insider Transactions at Copart

In other Copart news, Chairman A Jayson Adair sold 600,000 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total value of $34,662,000.00. Following the completion of the sale, the chairman now 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 available at this link. In other Copart news, Chairman A Jayson Adair sold 600,000 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total value of $34,662,000.00. Following the completion of the sale, the chairman now 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 available at this link. Also, Director Thomas N. Tryforos sold 285,000 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total value of $15,751,950.00. Following the completion of the sale, the director now owns 35,000 shares of the company’s stock, valued at approximately $1,934,450. The disclosure for this sale can be found here. 10.23% of the stock is currently owned by company insiders.

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.

Further Reading

Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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