Canoe Financial LP Makes New Investment in Copart, Inc. (NASDAQ:CPRT)

Canoe Financial LP bought a new stake in Copart, Inc. (NASDAQ:CPRT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 139,227 shares of the business services provider’s stock, valued at approximately $7,990,000.

Several other institutional investors have also bought and sold shares of CPRT. Optimum Investment Advisors boosted its stake in shares of Copart by 141.5% in the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after buying an additional 300 shares during the last quarter. Eastern Bank bought a new stake in Copart during the third quarter worth $29,000. Quarry LP purchased a new position in Copart in the third quarter worth $29,000. Ashton Thomas Securities LLC bought a new position in Copart in the 3rd quarter valued at $33,000. Finally, True Wealth Design LLC increased its position in shares of Copart by 1,737.1% during the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 608 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

CPRT stock opened at $56.90 on Friday. Copart, Inc. has a fifty-two week low of $47.51 and a fifty-two week high of $64.38. The stock has a fifty day moving average of $59.07 and a 200-day moving average of $54.71. The company has a market capitalization of $54.82 billion, a price-to-earnings ratio of 40.07 and a beta of 1.33.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.10 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. The company’s revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the company earned $0.34 earnings per share. Equities analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. boosted their price target on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th.

Insider Buying and Selling at Copart

In other news, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total value of $16,038,273.17. Following the completion of the transaction, the chairman now directly owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. The trade was a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of the 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. Insiders have sold 650,213 shares of company stock valued at $39,199,813 in the last 90 days. 9.68% of the stock is currently owned by company insiders.

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.