Aaron Wealth Advisors LLC acquired a new stake in shares of Copart, Inc. (NASDAQ:CPRT – Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,843 shares of the business services provider’s stock, valued at approximately $278,000.
A number of other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in shares of Copart by 3.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,326,381 shares of the business services provider’s stock worth $126,012,000 after purchasing an additional 87,718 shares during the period. Mercer Global Advisors Inc. ADV increased its holdings in Copart by 1.1% during the second quarter. Mercer Global Advisors Inc. ADV now owns 51,662 shares of the business services provider’s stock valued at $2,798,000 after buying an additional 576 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in Copart by 14.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 28,659 shares of the business services provider’s stock worth $1,552,000 after acquiring an additional 3,583 shares during the period. AE Wealth Management LLC purchased a new position in shares of Copart during the 2nd quarter worth $521,000. Finally, Pacer Advisors Inc. grew its position in shares of Copart by 2.1% during the 2nd quarter. Pacer Advisors Inc. now owns 117,840 shares of the business services provider’s stock valued at $6,382,000 after acquiring an additional 2,395 shares during the period. Institutional investors own 85.78% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, JPMorgan Chase & Co. lifted their target price on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th.
Copart Price Performance
Shares of NASDAQ:CPRT opened at $56.90 on Tuesday. The company has a market capitalization of $54.82 billion, a P/E ratio of 40.07 and a beta of 1.33. Copart, Inc. has a 1-year low of $47.51 and a 1-year high of $64.38. The firm’s 50 day simple moving average is $59.08 and its two-hundred day simple moving average is $54.74.
Copart (NASDAQ:CPRT – Get Free Report) last released its earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.37. Copart had a net margin of 31.92% and a return on equity of 18.96%. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the company earned $0.34 EPS. Copart’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, sell-side analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Copart news, Chairman A Jayson Adair sold 251,423 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the completion of the transaction, the chairman now owns 14,436,557 shares of the company’s stock, valued at $920,907,971.03. This represents a 1.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of Copart stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $56.84, for a total value of $13,384,683.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 650,213 shares of company stock worth $39,199,813. 9.68% of the stock is owned by corporate 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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