AXQ Capital LP Makes New $701,000 Investment in Copart, Inc. (NASDAQ:CPRT)

AXQ Capital LP bought a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 12,221 shares of the business services provider’s stock, valued at approximately $701,000.

Other hedge funds also recently modified their holdings of the company. Madison Investment Advisors LLC bought a new stake in Copart in the 4th quarter valued at $253,686,000. Bank of New York Mellon Corp boosted its position in shares of Copart by 23.3% in the fourth quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider’s stock valued at $1,115,664,000 after acquiring an additional 3,667,534 shares during the period. Franklin Resources Inc. grew its stake in shares of Copart by 335.8% in the third quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock valued at $149,471,000 after acquiring an additional 2,084,626 shares in the last quarter. Raymond James Financial Inc. bought a new position in Copart during the fourth quarter worth about $69,162,000. Finally, Amundi raised its stake in Copart by 18.2% in the 4th quarter. Amundi now owns 7,080,834 shares of the business services provider’s stock worth $402,332,000 after purchasing an additional 1,090,841 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Performance

CPRT opened at $53.63 on Friday. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38. The firm has a market cap of $51.81 billion, a P/E ratio of 35.99 and a beta of 1.30. The business’s fifty day moving average is $56.43 and its 200-day moving average is $56.01.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. On average, research analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Copart

In other Copart news, Director Matt Blunt sold 50,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $57.66, for a total transaction of $2,883,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James E. Meeks sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total transaction of $5,400,000.00. The disclosure for this sale can be found here. Insiders sold a total of 415,480 shares of company stock worth $23,407,983 over the last three months. Corporate insiders own 9.68% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Argus lowered shares of Copart from a “buy” rating to a “hold” rating in a research report on Friday, March 14th.

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.