Dai ichi Life Insurance Company Ltd Boosts Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Dai ichi Life Insurance Company Ltd boosted its stake in Copart, Inc. (NASDAQ:CPRT) by 7.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,792 shares of the business services provider’s stock after purchasing an additional 3,850 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Copart were worth $2,832,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Manchester Capital Management LLC raised its position in shares of Copart by 101.0% during the 3rd quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider’s stock valued at $27,000 after buying an additional 314 shares in the last quarter. Bell Investment Advisors Inc lifted its stake in shares of Copart by 87.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 694 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 323 shares during the last quarter. Fortitude Family Office LLC purchased a new position in shares of Copart in the 4th quarter worth approximately $34,000. Cornerstone Planning Group LLC increased its position in shares of Copart by 98.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 818 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 406 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. raised its holdings in Copart by 100.0% during the 3rd quarter. C M Bidwell & Associates Ltd. now owns 872 shares of the business services provider’s stock valued at $38,000 after buying an additional 436 shares during the period. Institutional investors own 85.78% of the company’s stock.

Insider Activity at Copart

In related news, Chairman A Jayson Adair sold 600,000 shares of the company’s stock in a transaction 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 completion of the sale, the chairman now directly 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 the SEC website. In other news, Director Matt Blunt sold 100,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $51.06, for a total transaction of $5,106,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman A Jayson Adair sold 600,000 shares of the business’s 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 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 have sold a total of 985,000 shares of company stock valued at $55,519,950 over the last ninety days. 10.23% of the stock is owned by company insiders.

Copart Stock Performance

NASDAQ CPRT traded down $0.10 on Friday, reaching $53.42. 158,651 shares of the stock traded hands, compared to its average volume of 4,408,534. 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 price of $55.54 and a 200-day moving average price of $51.75. The company has a market cap of $51.36 billion, a price-to-earnings ratio of 37.69 and a beta of 1.22.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, May 16th. The business services provider reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Copart had a net margin of 33.33% and a return on equity of 20.80%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the firm earned $0.36 earnings per share. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, research analysts anticipate that Copart, Inc. will post 1.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

About Copart

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.