AXS Investments LLC Invests $902,000 in Copart, Inc. (NASDAQ:CPRT)

AXS Investments LLC acquired a new stake in shares of Copart, Inc. (NASDAQ:CPRT) 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.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, November 16th. The business services provider reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02. Copart had a net margin of 31.99% and a return on equity of 22.46%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $987.90 million. During the same quarter in the prior year, the company posted $0.25 EPS. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. On average, sell-side analysts predict that Copart, Inc. will post 1.42 earnings per share for the current fiscal year.

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.