AXS Investments LLC acquired a new stake in shares of Copart, Inc. (NASDAQ:CPRT – Free Report) during the second quarter, according to its most recent filing with the SEC. The fund acquired 9,892 shares of the business services provider’s stock, valued at approximately $902,000.
Other institutional investors have also added to or reduced their stakes in the company. Quarry LP bought a new stake in Copart during the first quarter valued at $29,000. Fiduciary Alliance LLC bought a new stake in shares of Copart during the 2nd quarter valued at about $30,000. Newbridge Financial Services Group Inc. bought a new position in shares of Copart in the second quarter worth approximately $31,000. Annapolis Financial Services LLC bought a new stake in Copart during the second quarter valued at approximately $33,000. Finally, Hollencrest Capital Management increased its holdings in shares of Copart by 92.1% in the 1st quarter. Hollencrest Capital Management now owns 438 shares of the business services provider’s stock worth $33,000 after buying an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.
Copart Trading Up 1.8 %
Shares of NASDAQ:CPRT traded up $0.91 during trading on Friday, reaching $50.22. 5,796,627 shares of the company traded hands, compared to its average volume of 4,048,641. Copart, Inc. has a 52-week low of $29.61 and a 52-week high of $51.53. The firm has a market capitalization of $48.22 billion, a price-to-earnings ratio of 39.23 and a beta of 1.19. The business’s fifty day moving average is $45.05 and its 200-day moving average is $46.39.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on CPRT. Robert W. Baird upped their target price on shares of Copart from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, September 15th. StockNews.com upgraded Copart from a “hold” rating to a “buy” rating in a research report on Monday, October 30th. Argus started coverage on shares of Copart in a research report on Friday, September 8th. They set a “buy” rating and a $53.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Copart from $39.50 to $41.00 in a report on Monday, September 18th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Copart presently has an average rating of “Moderate Buy” and an average price target of $44.40.
Insider Buying and Selling
In related news, Director Stephen Fisher sold 160,000 shares of the company’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $45.69, for a total transaction of $7,310,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Copart news, Director Matt Blunt sold 49,435 shares of the company’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $43.11, for a total transaction of $2,131,142.85. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Stephen Fisher sold 160,000 shares of the firm’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $45.69, for a total value of $7,310,400.00. The disclosure for this sale can be found here. 10.23% of the stock is owned by 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.
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