OVERSEA CHINESE BANKING Corp Ltd Takes $363,000 Position in Copart, Inc. (NASDAQ:CPRT)

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Copart, Inc. (NASDAQ:CPRT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,409 shares of the business services provider’s stock, valued at approximately $363,000.

Several other hedge funds have also recently bought and sold shares of CPRT. Nicholas Hoffman & Company LLC. grew its holdings in Copart by 9.2% during the fourth quarter. Nicholas Hoffman & Company LLC. now owns 11,084 shares of the business services provider’s stock valued at $543,000 after purchasing an additional 936 shares during the last quarter. Lindbrook Capital LLC grew its stake in Copart by 18.0% in the 4th quarter. Lindbrook Capital LLC now owns 5,811 shares of the business services provider’s stock valued at $285,000 after buying an additional 885 shares during the last quarter. abrdn plc raised its holdings in Copart by 62.1% in the 4th quarter. abrdn plc now owns 417,306 shares of the business services provider’s stock worth $20,448,000 after acquiring an additional 159,844 shares during the period. CNB Bank lifted its position in Copart by 21.5% during the 4th quarter. CNB Bank now owns 9,547 shares of the business services provider’s stock worth $468,000 after acquiring an additional 1,691 shares during the last quarter. Finally, Litman Gregory Wealth Management LLC boosted its holdings in Copart by 3.0% during the fourth quarter. Litman Gregory Wealth Management LLC now owns 164,099 shares of the business services provider’s stock valued at $8,041,000 after acquiring an additional 4,744 shares during the period. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Copart news, Chairman A Jayson Adair sold 600,000 shares of Copart stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the sale, the chairman now directly owns 19,687,980 shares of the company’s stock, valued at $1,137,374,604.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Matt Blunt sold 100,000 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $51.06, for a total transaction of $5,106,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman A Jayson Adair sold 600,000 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the completion of the transaction, the chairman now owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The disclosure for this sale can be found here. Insiders sold 985,000 shares of company stock valued at $55,519,950 over the last quarter. Corporate insiders own 10.23% of the company’s stock.

Copart Stock Down 0.6 %

Shares of CPRT opened at $52.88 on Monday. The stock’s 50-day moving average price is $54.34 and its 200 day moving average price is $50.14. Copart, Inc. has a 12-month low of $38.35 and a 12-month high of $58.58. The firm has a market capitalization of $50.84 billion, a price-to-earnings ratio of 38.04 and a beta of 1.22.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.02). The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. Copart had a net margin of 33.41% and a return on equity of 21.55%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the firm earned $0.31 EPS. Equities research analysts expect that Copart, Inc. will post 1.42 EPS for the current year.

Analyst Ratings Changes

CPRT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. StockNews.com lowered Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $51.00.

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.