Farringdon Capital Ltd. Makes New $472,000 Investment in Copart, Inc. (NASDAQ:CPRT)

Farringdon Capital Ltd. purchased a new stake in shares of Copart, Inc. (NASDAQ:CPRT) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 8,216 shares of the business services provider’s stock, valued at approximately $472,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sandy Spring Bank boosted its position in Copart by 59.5% during the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock worth $27,000 after buying an additional 176 shares during the period. Curio Wealth LLC acquired a new position in shares of Copart during the fourth quarter worth $52,000. Retirement Wealth Solutions LLC acquired a new stake in Copart in the fourth quarter valued at $54,000. Eastern Bank increased its holdings in Copart by 115.1% in the fourth quarter. Eastern Bank now owns 1,196 shares of the business services provider’s stock valued at $69,000 after purchasing an additional 640 shares during the period. Finally, Golden State Wealth Management LLC bought a new position in Copart during the 4th quarter worth $73,000. 85.78% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director James E. Meeks sold 100,000 shares of Copart stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total value of $5,400,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Steven D. Cohan sold 94,997 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $60.01, for a total transaction of $5,700,769.97. The disclosure for this sale can be found here. Over the last three months, insiders sold 200,000 shares of company stock worth $11,401,000. 9.68% of the stock is owned by corporate insiders.

Copart Stock Up 0.4 %

CPRT opened at $59.68 on Friday. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38. The company has a fifty day moving average of $56.21 and a 200-day moving average of $56.82. The stock has a market cap of $57.66 billion, a PE ratio of 40.05 and a beta of 1.22.

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

Wall Street Analysts Forecast Growth

Separately, Argus cut Copart from a “buy” rating to a “hold” rating in a research note on Friday, March 14th.

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.