Copart, Inc. (NASDAQ:CPRT) Stock Position Boosted by Ballentine Partners LLC

Ballentine Partners LLC raised its position in shares of Copart, Inc. (NASDAQ:CPRT) by 1.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,417 shares of the business services provider’s stock after buying an additional 476 shares during the quarter. Ballentine Partners LLC’s holdings in Copart were worth $1,646,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CPRT. Rise Advisors LLC bought a new position in Copart during the first quarter valued at approximately $28,000. Fortitude Family Office LLC acquired a new stake in shares of Copart in the fourth quarter worth $34,000. C M Bidwell & Associates Ltd. boosted its stake in Copart by 100.0% during the third quarter. C M Bidwell & Associates Ltd. now owns 872 shares of the business services provider’s stock worth $38,000 after buying an additional 436 shares in the last quarter. Trust Co. of Vermont acquired a new stake in Copart during the fourth quarter worth $38,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in Copart during the fourth quarter worth $40,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. boosted their target price on shares of Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Copart currently has a consensus rating of “Hold” and an average price target of $51.00.

Insider Buying and Selling at Copart

In other Copart news, Chairman A Jayson Adair sold 600,000 shares of the company’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 transaction, the chairman now directly owns 19,687,980 shares in the company, valued at approximately $1,137,374,604.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 10.23% of the company’s stock.

Copart Trading Up 0.1 %

NASDAQ CPRT traded up $0.04 on Monday, hitting $54.28. 130,879 shares of the company were exchanged, compared to its average volume of 4,348,391. The firm has a 50 day moving average of $54.18 and a two-hundred day moving average of $52.41. The company has a market cap of $52.23 billion, a P/E ratio of 38.20 and a beta of 1.26. Copart, Inc. has a 1-year low of $42.41 and a 1-year high of $58.58.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, May 16th. The business services provider reported $0.39 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the company posted $0.36 EPS. The company’s revenue was up 10.3% compared to the same quarter last year. Research analysts anticipate that Copart, Inc. will post 1.43 EPS for the current fiscal year.

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.